Disclosable Restructuring Paper - Vietnam Managing Natural Hazards Project - P118783

The objective of the Managing Natural Hazards Project is to increase the resilience of people and economic assets to natural hazards in selected river basins of the project provinces within the overall framework of Vietnam's National Disaster Prevention, Response and Mitigation Strategy Towards 2020. Following a request from the Ministry of Finance, dated March 4, 2019, a level two restructuring for the Vietnam Managing Natural Hazards Project is proposed to extend the Credit closing date by six months from March 31, 2019 to September 30, 2019. The project was earlier restructured on May 31, 2016 as part of a one-time amendment for 13 projects for the entire Vietnam-World Bank Group (WBG) portfolio. This second restructuring to extend the closing date is being requested to facilitate implementation of the remaining project activities and enhance achievement of the Project Development Objective (PDO).