The World Bank has agreed to approve a loan worth USD50 million to the Ho Chi Minh City Investment Fund for Urban Development for the execution of municipal and infrastructure projects until 2012. “A $50 million line of credit is not so large for an urban infrastructure investment fund, but it is especially important because sustaining growth, both in HCM City and in Viet Nam generally, will require a huge investment in infrastructure,” said World Bank country director Ajay Chhibber. The financial assistance is expected to respond to the strong capital demand of important infrastructure projects for the city, as well as to support the local development investment fund as a pilot program. (Source: World Bank gives $50m in credit for City?s urban growth/Viet Nam News Agency)
