Nearly US$30 million disbursed for HCM City projects
Ho Chi Minh City has disbursed more than 3 billion JPY (US$29.6 million) of Japan’s official development assistance (ODA) for local traffic and environmental projects, according to the municipal People’s Committee.
The city’s People’s Committee reported to Deputy Prime Minister Hoang Trung Hai that of that sum, about 1.56 billion JPY (US$15.4 million) has been disbursed for the East West Highway, while the rest went to the first phase of a water environment improvement project.
Municipal authorities have ordered the Urban – Civil Works Construction Investment Management Authority to take drastic measures to accelerate the disbursement progress before August 31, the expiry of loan agreements’ disbursement.
HCM City asked the Deputy PM to instruct authorised ministries to help speed up the disbursement.
The 21.89km East West highway traverses eight districts and includes 11 bridges and 8 overpasses. About 65% of its VND16 trillion (US$760 million) investment was financed by Japan’s ODA.