12th Vietnam-France decentrialized cooperation conference 31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / Hanoinews
Hanoi to cooperate with IFC in urban development
Ngoc Mai - Tu Anh 17:13, 2021/03/26
IFC commits to joining Hanoi in the search for the best financing mechanism that suits the capital city’s vision for development.

Hanoi is expected to cooperate with the International Finance Corporation (IFC), a member of the World Bank Group, to work out a pilot finance mechanism to fund urban development projects.

 Chairman of the Hanoi People’s Committee Chu Ngoc Anh and IFC Regional Manager for Vietnam, Cambodia, and Laos Kyle Kelhofer. Photo: Tu Anh

Chairman of the Hanoi People’s Committee Chu Ngoc Anh gave the remarks in a meeting with IFC Regional Manager for Vietnam, Cambodia, and Laos Kyle Kelhofer today [March 26], aiming to realize the Memorandum of Understanding (MoU) signed between the two sides in 2020.

Referring to IFC’s suggestion of the necessity to have a next-generation strategy to attract FDI, Anh said Hanoi is set to hold a conference to discuss measures promoting foreign investment capital to the city.

On his part, Kelhofer noted that the IFC is one of the largest global development institutions running projects worth around US$25 billion for developing countries.

Kelhofer said in 2020, the organization invested US$1 billion in Vietnam, making the country to be the IFC’s top 10 partners, and on track to join in the top 5.

The IFC’s representative mentioned two initiatives that Vietnam could diversify its financing sources for urban development, including the issuance of green bond and through the APEX clean energy access fund.

Kelhofer highlighted Vietnam’s positive economic prospect amid the Covid-19 pandemic, saying the fact that credit rating agencies have upgraded the country’s outlook would bring more opportunity for Hanoi to access preferential loans.

IFC is committed to joining Hanoi in the search for the best financing mechanism that suit the capital city’s vision for development.

TAG: Hanoi Vietnam IFC urban development Covid-19 pandemic
Other news
15:25, 2023/25/28
Hanoi to build two new cities, creating springboard for Hoa Lac, Noi Bai areas
Architect Ngo Doan Duc believes that Hanoi needs to create policies to attract talent and investors to build two new cities in Hoa Lac and Noi Bai.
20:46, 2023/46/27
UNESCO promises tight partnership with Hanoi in heritage and relic conservation
As home to nearly 300 national treasures, Hanoi has a valuable source of ritual and cultural traits that tell its history of thousands of years.
14:07, 2023/07/27
Hanoi targets 100% of population with accounts on public services portal
It is expected that local governments will waive or reduce fees for the use of online public services and for online payments.
21:19, 2023/19/26
Hanoi holds Olympic Day Run 2023
The goal is to encourage people to exercise to enhance physical health and contribute to the country's and the capital's human resources.
16:35, 2023/35/26
Re-enacting an 80s and 90s style wedding in Hanoi's Old Quarter
The program aims to restore the traditional values of Hanoians' weddings, an essential event in a person's life in any historical period.
16:15, 2023/15/26
Hanoi urged to speed up digital transformation in smart city construction
Hanoi is considered "elite" in science, technology and information, which is favorable to carrying out digital transformation.