HCM City seeks ODA capital for anti-flooding work
The Ho Chi Minh City People’s Committee has registered to borrow official development assistance (ODA) capital from the World Bank (WB) to implement a project on reducing urban flooding over 2015-2020.
According to the Sai gon Giai phong newspaper, the municipal People’s Committee is seeking a USS$763 million loan from the bank to dredge the Tham Luong-Ben Cat-Nuoc Len canal and upgrade drainage systems in the city’s flood-prone Tan Binh and Go Vap districts.
Residents in the city have recently suffered from serious flood tide, which reached record high levels at the end of last year as a consequence of rising sea level and climate change. The situation has affected local community’s health and daily activities as well as production and business.