Slow ODA disbursement challenges Ho Chi Minh City metro project

Motro Metro

Despite ODA loans provided by Japan, the construction of Saigon’s first metro line is still delayed by sluggish disbursement

By Tuoi Tre News

September 14, 2017, 16:09 GMT+7

​Slow ODA disbursement challenges Ho Chi Minh City metro project
A section of Metro Line No.1 in Binh Thanh District, Ho Chi Minh City. Photo: Tuoi Tre
More delays are expected for the construction of Ho Chi Minh City’s first metro line due to the insufficient provision of capital.Le Nguyen Minh Quang, head of the city’s Management Authority for Urban Railways, told Tuoi Tre (Youth) newspaper that the city’s Metro Line No.1 project continues to face mounting challenges related to investment. Tiếp tục đọc “Slow ODA disbursement challenges Ho Chi Minh City metro project”

HCM City asks State for additional $2 billion of ODA

vietnamnews

Update: April, 18/2017 – 09:00

HCM City has asked the government to allocate an additional VNĐ48.76 trillion (US$2.14 billion) worth of ODA funds for the city to continue work on two projects. — VNA/VNS Photo Mạnh Linh
Viet Nam News HCM CITY —  HCM City authorities have asked the Ministry of Planning and Investment and Ministry of Finance to allocate an additional VNĐ48.762 trillion (US$2.14 billion) of official development assistance (ODA) in the next three years, with VNĐ8 trillion ($352.33 million) allocated for this year.

The Japan International Cooperation Agency (JICA) has urged the city to work with the government to request more funds to implement two JICA-funded projects this year.

The work includes construction on metro line No 1 Bến Thành-Suối Tiên and the second phase of a water environment improvement project on the Tàu Hủ-Bến Nghé-Đôi-Tẻ canal.

Under commitments with the contractors, annual ODA loans needed for the two projects would reach VNĐ29.512 trillion ($1.3 billion) by 2020, and VNĐ7 trillion ($308.34 million) for this year. Tiếp tục đọc “HCM City asks State for additional $2 billion of ODA”