Sawaco borrows $160m for project

Update: August, 11/2017 - 09:00
Viet Nam News

HCM CITY — Vietcombank and the HCM City Finance and Investment Company have agreed to lend VNĐ3.65 trillion (US$160.36 million) to the Saigon Water Corporation (Sawaco) to finance a major water supply system.

Sawaco will use the loan, which carries an interest rate at 8.5 per cent, for 11 different projects to ensure everyone in the city has access to clean water.

Trần Văn Khuyên, chairman of Sawaco, said a lot of funding is required to improve the city’ water supply.

At the signing ceremony on Wednesday, Trần Vĩnh Tuyến, deputy chairman of the city People’s Committee, said the loan would help improve water supply.

He called on Sawaco to use technology to improve quality control, reduce water loss and make tap water safe to drink. — VNS