HCMC benefits from French Agency for Development aid

VNGOVNet – PM Nguyễn Tấn Dũng agreed with the Hồ Chí Minh City People’s Committee to carry out the technical assistance project "Capacity improvement for HIFU and project managers" with nonrefundable aid of €1.5 million from the French Agency for Development (AFD).

December 20, 2006 1:45 PM GMT+7

The PM entrusted the HCMC People’s Committee to approve the project in line with the existing regulations.

AFD, through the Ministry of Finance, will provide the HCMC Investment Fund for Urban Development (HIFU) with a preferential loan of €30 million to finance projects in healthcare, education, environment, housing (for low-income people) projects in Hồ Chí Minh City. The loan has a term of 20 years, including 7 years in grace period. AFD had earlier granted HIFU €50,000 to set up an anti-money laundering program and €30,000 to develop the Terms of Reference for this project.

The project is aimed at raising the management capacity of HIFU and managers of other projects funded with AFD’s credit.

By Hồng Uyên

(Source: Document 2071/TTg-QHQT)