Loans and credits part of strategic partnership between bank and city.
The State Bank of Vietnam and the World Bank have signed agreements for a total of $450 million in loans and credits to further improve Ho Chi Minh City’s environment and sanitation.
The funding, which goes to the Second Ho Chi Minh City Environmental Sanitation Project, will improve the environment by treating wastewater, strengthening institutional capacity to manage sanitation and wastewater services, and increasing public awareness on the benefits of improved sanitation practices.
“The project is part of the World Bank’s strategic partnership with Ho Chi Minh City, which supports economic growth and urban development, including flood risk management and improving urban services,” said Ms. Victoria Kwakwa, World Bank Country Director to Vietnam. “The improvements to environmental sanitation to be funded under the project will increase the quality of life for about 1.3 million residents.”
The project includes a wastewater treatment plant that will treat wastewater collected in the Nhieu Loc-Thi Nghe canal and from parts of District 2. It will also treat untreated wastewater currently discharged into the Saigon River.
Through the project, sewerage networks and housing connections to the network will be installed in parts of District 2. The project will also provide technical assistance to improve sanitation and wastewater management practices in the city.