The Government on Wednesday assigned the HCM City Development Joint Stock Bank (HD Bank), on behalf of the Ministry of Finance, to re-lend a package of an ODA loan of VND3 trillion (US$138.24 million) from Japan International Co-operation Agency (JICA) to carry out the second phase of the Nhon Trach water supply project.
The Government on Wednesday assigned the HCM City Development Joint Stock Bank (HD Bank), on behalf of the Ministry of Finance, to re-lend a package of an ODA loan of VND3 trillion (US$138.24 million) from Japan International Co-operation Agency (JICA) to carry out the second phase of the Nhon Trach water supply project.
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| The Nhon Trach water supply project. |
This is the first time a commercial joint-stock bank has been assigned to re-lend and share 20 per cent of risk with the ministry. The bank will be responsible for disbursement; getting the loan, interest and fees back; and supervising and managing the capital use during disbursement.
Phase two of the water supply project has total capital of VND3.6 trillion ($171 million). ODA capital from JICA accounts for 85 per cent. The project is expected to meet the increased demand on water in Dong Nai province.
(Source:VNS)
