World Bank to Add $90M to Vietnam Environment Project

The World Bank has agreed to add $90 million to the Nhieu Loc - Thi Nghe basin environmental sanitation project in Ho Chi Minh City to complete it next year. The World Bank and the project’s management board are expected to sign a deal to extend the credit agreement in April. Earlier the city authorities terminated an $85 million deal signed with the China State Construction Engineering Corporation (CSCEC) to implement package 10 of the project as the bank refused to fund after it found out one unit of the Chinese firm in the Philippines involved in a corruption scandal. The Nhieu Loc-Thi Nghe project costs nearly $200 million with $166 million of ODA loans; however, its cost has been increased due to its construction sluggishness.