The Ho Chi Minh City Finance and Investment State-owned Company (HFIC) has funded 72 training projects after the city carried out stimulus program in the education sector since 2000, said Diep Dung, General Manager of HFIC at a meeting in HCMC on April 22.
72 training projects have been funded with nearly VND 1,3 trillion (US$62.6 million) by HFIC so far. Some of them include construction project of the second facility of Ton Duc Thang University, construction project of University of Technical Education Ho Chi Minh City and Rang Dong kindergarten in District 6.
The event was co-organized by the Department of Education and Training in HCMC and HFIC.
As per a regulation on projects in stimulus program approved by Le Hoang Quan, Chairman of HCMC People's Committee, these programs are funded within seven years and the maximum fund is VND100 billion for each project.
The People’s Committee will consider the exception cases. Total amount for theses projects supported by banks via the program will not exceed VND12 trillion (US$ 569,279,597).