HCM City hopes for more assistance from WB
15:41, 2016/04/07
World Bank Country Director in Vietnam Victoria Kwakwa had a working session with Chairman of the Ho Chi Minh City People’s Committee Nguyen Thanh Phong on April 5 to discuss cooperation programmes between the bank and municipal authorities.
Kwakwa highlighted the efficiency of cooperation projects between HCM City and the WB in recent time, affirming that this contributes to promoting the connection between the two sides.
She said the bank is considering a loan for the city’s infrastructure projects, which will prioritise green transportation and flood prevention projects.
Regarding the bank’s Development Policy Operation (DPO) programme, Kwakwa said the WB is preparing a fiscal mechanism for the programme, which aims to support the city in implementing its reform efforts.
This is the first time the bank has provided loans worth between 50 and 150 million USD for provinces and cities, she noted, expressing her hope that once approved, the support will help the city improve the efficiency of its public spending management and public service supply.
The WB official said the formation of Bus Rapid Transit (BRT) routes in the city is consistent with the hub’s development planning, but she noted that the city should consider carefully its plan to build a tramway because the project is likely to require a great amount of investment capital.
Kwakwa also spoke highly of the rate of progress of the flood prevention project in the city, hoping that local authorities will take measures to implement the project.
Chairman Nguyen Thanh Phong thanked the WB for its recent support to help the city invest in crucial projects that contributed to ensuring local social welfare and development.
Concerning the DPO programme, Phong said he hopes the WB will consider approving the loan for Vietnam as soon as possible, and continue to send its experts to work with the municipal Department of Finance to complete the draft of the programme.
The city is focusing on implementing a BRT project toward increasing travel demand of locals and reducing traffic, Phong noted, adding that the flood-prevention project will create better living conditions.
HCM City wants to receive financial assistance from the WB and the Asian Development Bank for its project in the time ahead, he said.
Phong also took the occasion to report work related to ground clearance, compensation and resettlement in the flood prevention project to the WB official.
The working session.
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Regarding the bank’s Development Policy Operation (DPO) programme, Kwakwa said the WB is preparing a fiscal mechanism for the programme, which aims to support the city in implementing its reform efforts.
This is the first time the bank has provided loans worth between 50 and 150 million USD for provinces and cities, she noted, expressing her hope that once approved, the support will help the city improve the efficiency of its public spending management and public service supply.
The WB official said the formation of Bus Rapid Transit (BRT) routes in the city is consistent with the hub’s development planning, but she noted that the city should consider carefully its plan to build a tramway because the project is likely to require a great amount of investment capital.
Kwakwa also spoke highly of the rate of progress of the flood prevention project in the city, hoping that local authorities will take measures to implement the project.
Chairman Nguyen Thanh Phong thanked the WB for its recent support to help the city invest in crucial projects that contributed to ensuring local social welfare and development.
Concerning the DPO programme, Phong said he hopes the WB will consider approving the loan for Vietnam as soon as possible, and continue to send its experts to work with the municipal Department of Finance to complete the draft of the programme.
The city is focusing on implementing a BRT project toward increasing travel demand of locals and reducing traffic, Phong noted, adding that the flood-prevention project will create better living conditions.
HCM City wants to receive financial assistance from the WB and the Asian Development Bank for its project in the time ahead, he said.
Phong also took the occasion to report work related to ground clearance, compensation and resettlement in the flood prevention project to the WB official.
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