Vietnam Bank to Arrange $198M WB Loan to Urban Water, Wastewater Project

The State Bank of Vietnam (SBV) has appointed the Vietnam Joint Stock Commercial Bank for Industry and Trade (Vietinbank) to arrange a loan of $198 million by the World Bank (WB) to an urban water supply and wastewater project. General Director of Vietinbank was empowered to perform the procedures to better serve the implementation of the funding. Earlier, the SBV governor Nguyen Van Giau and WB Country Director in Vietnam Victoria Kwakwa signed a loan agreement and legal documents in Hanoi on July 13. The project’s first phase is aimed to upgrade water supply and wastewater treatment systems in 11 provinces of Nghe An, Thanh Hoa, Quang Nam, Quang Ninh, Ninh Binh, Lam Dong, Quang Tri, Dak Lak, Binh Duong, Binh Phuoc and Kien Giang. More than 90% of total volume of wastewater in Vietnam has not yet been treated so far, experts said, adding that the country aims to treat over 80% of its total wastewater volume by 2025.  The WB, which is among the biggest donors for Vietnam, has to date provided with non-refundable aid, preferential credits and loans worth $13.5 billion to back the country’s development. (Kinh Te Vietnam & The Gioi – Vietnam & World Economy Nov 11 p1, ndhmoney.vn Nov 10, dvt.vn Nov 10)