City gets $29 mln French aid for infrastructure
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The French Development Agency has agreed to lend Ho Chi Minh City €20 million (US$29.1 million) for infrastructure development following a deal signed Thursday between Minister of Finance Vu Van Ninh and French ambassador Jean Francios Girault.
The money will be used to improve facilities for education, health care, and housing for low-income people and upgrade the waste collection and management systems.
The work is expected to cost a total of $140 million, with the rest of the money coming from public funds and private investors.
The Hochiminh City Finance and Investment State-owned Company, an investment fund established in 1996 to develop infrastructure, will be in charge of the project.
ADF is also providing two outright grants worth €1 million ($1.45 million) to the Hanoi University Medical Hospital and €1.5 million to the Federal Energy Regulatory Commission No.2 (FERC n°2), the agency that monitors the use of AFD aid to Vietnam.
ADF has committed aid worth €1.05 billion (US$1.53 billion) to the Vietnamese government for socio-economic development.
