Accreditation assessment of applicant 110 (APL110)

The Green Climate Fund (GCF) Accreditation Panel recommends the accreditation of the Vietnam Development Bank (VDB) as a national direct access entity. VDB is approved for 'small' projects (up to US$ 50 million), medium environmental and social risk (Category B/I-2), and various fiduciary functions including on-lending and grant awards. While VDB's institutional policies and capacities generally meet GCF standards, the assessment identified gaps in its track record regarding the public disclosure of monitoring reports, grant results, and environmental and social (E&S) complaints. Consequently, accreditation is subject to specific conditions, including the formal adoption of a disclosure policy and the provision of gender assessments and E&S communication systems with its first funding proposal.

• The Vietnam Development Bank (VDB) is a state-owned entity established in 2006 to execute state development investment and export credit policies, with a focus on non-profit fund mobilization and credit activities.
• VDB has a track record of financing climate-related projects, including a USD 46 million loan for the Bac Lieu Wind Farm Project (Phase I) and USD 135 million for water loss mitigation and supply network expansion for the Sai Gon Water Supply Corporation (2011–2015).
• The Accreditation Panel found that VDB fully meets GCF basic fiduciary standards for administrative and financial capacities, transparency, accountability, and anti-money laundering (AML/CFT) policies.
• VDB partially meets specialized fiduciary standards for project management, grant awards, and on-lending because it has not historically published project monitoring and evaluation reports, grant award results, or on-lending operation details.
• VDB's environmental and social management system (ESMS) is based on the Law on Environmental Protection 2014, but it required an 'E&S Policy addendum' to address gaps in external communication systems, information disclosure, and grievance redress mechanisms (GRM).
• While VDB's gender policies and capacities meet GCF requirements through a new Gender Policy addendum and the establishment of an Environmental & Social and Gender Evaluation Unit, it lacks a track record of conducting gender assessments in line with GCF's Updated Gender Policy.
• The Accreditation Panel recommends VDB for accreditation for projects of 'small' size (above US$ 10 million and up to US$ 50 million) and medium environmental and social risk (Category B/I-2).

APA

Green Climate Fund (n.d.). Accreditation assessment of applicant 110 (APL110). https://www.greenclimate.fund/sites/default/files/decision/b29/decision-b29-05-a07.pdf

Chicago

Green Climate Fund. Accreditation assessment of applicant 110 (APL110). n.d. https://www.greenclimate.fund/sites/default/files/decision/b29/decision-b29-05-a07.pdf.

Wikipedia

{{cite report |author=Green Climate Fund |title=Accreditation assessment of applicant 110 (APL110) |url=https://www.greenclimate.fund/sites/default/files/decision/b29/decision-b29-05-a07.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{greenclimatefundndaccreditation, author = {{Green Climate Fund}}, title = {{Accreditation assessment of applicant 110 (APL110)}}, institution = {Green Climate Fund}, url = {https://www.greenclimate.fund/sites/default/files/decision/b29/decision-b29-05-a07.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }