HCM City Needs $2.2B for Anti-flood Projects in Next 5 Years

Ho Chi Minh City needs VND41.8 trillion ($2.2 billion) for anti-flood projects in the next five years, the city’s management board of flood prevention projects said. In 2009, HCM City spent VND340 billion ($17.89 million) for 37 anti-flood projects. Almost all investments for anti-flood projects comes from the city’s budget and official development assistance (ODA) loans, the Thoi Bao Kinh Te newspaper reported June 25. The number of waterlogged areas in metropolis has soared by 60% on year to 163 this year and the city plans to reduce the number of submerged places by 40% in 2010, said the Steering Center of Urban Flood Control Program in Ho Chi Minh City. The city’s Institute of Irrigation and Environment estimates floods damage approx VND6.2 trillion a year for Ho Chi Minh City.