HCMC to borrow VND2.38 trillion for water environment improvement project
12 Nov 20 Vietnamnet Source HCMC will borrow VND2.38 trillion from Japan's official development assistance (ODA) to continue executing its water sanitation project, the HCMC People's Council announced at a meeting on November 10The repayment period of this ODA loan is 30 years and the city will use its budget or other sources to service the loan on time.
The project was approved by the prime minister in 2005 and work on it commenced in 2010. It was initially scheduled for completion in 2014 but the completion time was later delayed until 2022.
With an aim to improve the water environment in the basin of the Tau Hu, Ben Nghe, Doi and Te canals, the project covers 3,060 hectares and comprises upgrading and building sewers and developing wastewater pumping stations, wastewater treatment facilities and other auxiliary works.
The project, which comprises six major construction packages, requires an investment of VND11.28 trillion, including VND9.83 trillion from the ODA provided by the Japanese Government and VND1.45 trillion from the city's budget.
Up to now, the city and the Japanese Government, through the Japan International Cooperation Agency, have signed three loan agreements and this will be the final loan for the project.
HCMC Vice Chairman Vo Van Hoan said the project is being developed in four phases and each phase requires a loan. "Components that have been completed during the previous phases will form the basis to secure the new loan," he said. SGT
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