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WB Funds US$50Mln for Infrastructure Projects in HCM City

3:35:56 PM | 9/27/2007

The World Bank will finance US$50 million via its International Development Association (IDA) to develop key infrastructure projects in Ho Chi Minh City.
 
WB will entrust the HCM City Investment Fund for Urban Development (HIFU) to arrange the loans or invest capital into private businesses to develop the projects in the city.
 
The private companies need no reciprocal capital.  

Ngo Kim Lien, general director of HIFU said this is the first project in Vietnam that WB gives its funds via a middle agent as HIFU to meet capital for infrastructure in HCM City. (Laborer, Vietnam Economic Times)

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