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PRESS RELEASE

Vietnam, World Bank signs US$450 Million to Finance Better Living Conditions for Ho Chi Minh City

March 12, 2015


Ho Chi Minh City, March 12, 2015 — The State Bank of Vietnam and the World Bank today signed agreements for a total of US$450 million in loans and credits to the Socialist Republic of Vietnam 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, strengthen institutional capacity to manage sanitation and wastewater services, and increase public awareness on the benefits of improved sanitation practices.

"The project is part of the World Bank strategic partnership with Ho Chi Minh 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," said Victoria Kwakwa, World Bank Country Director to Viet Nam.

The project includes a waste water treatment plant that will treat wastewater collected in the Nhieu Loc-Thi Nghe basin and from parts of District 2 of the city. The plant will treat untreated wastewater that is currently being discharged to the Saigon 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 awareness raising to bring about a sustainable liveable urban environment,” said Sudipto Sarkar, World Bank Lead Specialist and task team leader. “Thus, an Environmental Learning Center will be established to raise awareness of sanitation issues and the environment that will benefit the people of the Ho Chi Minh City.”

The total project cost is US$495 million, of which US$250 million will be financed through a loan from the International Bank for Reconstruction and Development (IBRD) and a US$200 million credit through the International Development Association (IDA). HCMC will provide US$45 million from its own resources for the project.



Media Contacts
In Hanoi
Nguyen Hong Ngan
Tel : 84-4-39346600 ext. 8234
nnguyen5@worldbank.org
In Washington
Diana Chung
Tel : 1-202) 473-8357
dchung1@worldbank.org


PRESS RELEASE NO:
20150312

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