Menon Economics has carried out an End of Project review of a capacity building program in the water supply, wastewater/drainage and solid waste sectors in Vietnam. The capacity building program was designed with the purpose of improving the sustainability of twelve infrastructure projects funded by Norad and the KfW Development bank through a mixed credit scheme. The review is carried out in accordance with the OECD DAC criteria for evaluation of development programs and is based on interviews with stakeholders at five project sites, as well as document studies. We find that the program has had mixed success, with several activities enhancing the capacity of the infrastructure project stakeholders, but that the additionality of some activities is low and their contribution to overall objectives is questionable. The project is carried out under Menon’s framework agreement with KPMG and Norad.