WB Finances US$50 Mln for HCMC Infrastructure Project
The World Bank and the central bank of Vietnam November 16 have a deal of a preferential loan worth US$50 million for Ho Chi Minh City to develop infrastructure projects here.
The fund will be managed by the city’s Investment Fund for Urban Development (HIFU) from now to 2012, said the source.
WB and local authorities appreciate the participation of private businesses to carry out these projects.
WB country director in Vietnam Ajay Chhibber said the project will be a cooperative model between state agencies and private businesses in developing infrastructure projects amid the country is badly in need of capital for projects of this type. (Investment)
Vietnamese
