ADB to support HCMC in urban infrastructure development

Friday, 2018-02-02 12:02:56
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Ho Chi Minh City landscape
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NDO - The Asian Development Bank (ADB) will support Ho Chi Minh City in the construction of urban infrastructure to contribute to the general development of the city, said ADB Country Director for Vietnam Eric Sidgwick.

The bank leader made the statement at a meeting with Vice Chairman of Ho Chi Minh City People's Committee Tran Vinh Tuyen on February 1.

The city leader said that Ho Chi Minh City is always attentive to and fulfils the agreements signed with its partners, particularly with the ADB, adding that the Vietnamese Government is reviewing ODA projects to ensure their efficiency.

Regarding the four key projects receiving funding from the ADB, Tuyen said that the city has asked the Ministry of Planning and Investment to provide capital for the Metro line 2 project and the city also agreed to the compensation plan reached between the ADB and the Management Board of the urban metro line.

In addition, the city is on track to complete the ADB’s recommendations on the first phase of Metro line 5, among others.

Eric Sidgwick said that the ADB would like to be kept in the loop regarding the information and progress of joint projects between the bank and Ho Chi Minh City and hopes for regular exchanges on ODA management policy and the public debt ceiling to best ensure the progress and efficiency of synergetic projects for both sides.