HCMC plans to borrow US$100 million from WB for eight programs
The Saigon Times
|An aerial view of HCMC. The city has proposed borrowing US$100 million from the World Bank for its policy programs – PHOTO: VNA|
HCMC – The HCMC government has proposed borrowing US$100 million from the World Bank (WB) to provide capital for its eight policy programs as the city’s budget is not enough for its development demand.
The municipal government has asked the standing board of the municipal Party Committee for its opinion on the second development policy operation program (DPO-2). This program includes eight policy sub-programs relating to the standardization of the shared database, announcement of vector-based zoning plans, increase of wastewater drainage and treatment service prices and organization of tenders for State-owned commercial housing assets for production and business purposes, among others.
According to the municipal government, the Government approved over VND42.2 trillion for the city this year, including VND14.8 trillion in official development assistance loans and VND27.4 trillion from the city’s reciprocal capital, Thanh Nien Online newspaper reported.
Meanwhile, the capital needed is over VND47.8 trillion. Thus, the city will face a shortage of over VND20.4 trillion.
In April 2020, the Ministry of Finance disbursed loans for the DPO-1 program and VND2.86 trillion was provided for 153 projects.