|The State Bank of Viet Nam and the World Bank yesterday signed agreements for a total of US$450 million worth of loans to further improve HCM City's environment and sanitation. — VNA/VNS Photo Thanh Vu
HCM CITY (VNS) — The State Bank of Viet Nam and the World Bank yesterday signed agreements for a total of US$450 million worth of loans to further improve HCM City's environment and sanitation.
The funding, meant for the Second HCM City Environmental Sanitation Project, will improve the environment by treating wastewater, strengthen institutional capacity to manage sanitation and wastewater services and increase public awareness of the benefits of improved sanitation practices.
"The project is part of the World Bank strategic partnership with HCM City which supports economic growth, urban development including flood risk management and improving urban services. The improvements to environmental sanitation to be funded under the project will increase the quality of life for about 1.3 million residents," Victoria Kwakwa, the bank's Viet Nam country director, said.
The project includes a treatment plant for wastewater collected in the Nhieu Loc-Thi Nghe Basin and parts of District 2. It will treat untreated wastewater that is currently being discharged into the Sai Gon River.
Through the project, sewer networks and house 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.
"We place emphasis on both improved wastewater treatment infrastructure and management as well as raising awareness to bring about a sustainable, liveable urban environment," Sudipto Sarkar, World Bank Lead Specialist and task team leader, said.
"Thus, an Environmental Learning Center will be established to raise awareness of sanitation issues and the environment that will benefit the people of the HCM City."
The total project cost is $495 million, of which $250 million will be financed through a loan from the International Bank for Reconstruction and Development and a $200 million credit through the International Development Association.
HCM City will provide $45 million from its own resources. — VNS