An agreement on the programe was signed by the Ho Chi Minh Financial Investment Company (HFIC), the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) and Sawaco on August 9.
Per the deal, HFIC and Vietcombank will provide a credit of VND3.65 trillion (US$160.6 million) for Sawaco to implement the projects.
Since 2015, HFIC and Sawaco have together carried out 33 investment projects to build water reservoirs and pipe networks in numerous districts, worth up to VND3.3 trillion (US$145.2 million), with VND2.24 trillion (US$107.36 million) sourced from HFIC.
They include the water supply networks on Belt Road 2, Huynh Tan Phat and Nguyen Dinh Chieu streets, the reservoirs of Tan Hiep Water Treatment Plant and Thu Duc Water Treatment Plant.
According to the agreement, Vietcombank will continue providing water fee collection services for Sawaco’s units.
Tran Vinh Tuyen, Vice Chairman of the municipal People’s Committee lauded the cooperation among the stakeholders, saying it is crucial to have such connections to mobilise resources for infrastructure projects.
He expressed his hope that the credit will contribute to improving locals’ living conditions.