HCMC to make effective use of ADB loan

SGGP
Chairman of the HCM City People’s Committee Nguyen Thanh Phong on June 11 hosted a reception for ADB Country Director for Vietnam Eric Sidwick.

At the signing ceremony of the MoU between HCM City and ADB (Photo: SGGP)

At the signing ceremony of the MoU between HCM City and ADB (Photo: SGGP)

At the meeting, HCMC Mayor expressed his sincere thanks to the Asian Development Bank (ADB) for allocating US$20 billion to developing member countries in Asia to help them battle the economic and health effects of the coronavirus pandemic, including Vietnam.
He hoped that ADB will early provide preferential loans for key projects, such as the Metro Line No. 2, the first phase of Metro Line No. 5 and the sustainable urban transport project for Metro Line No. 2.
The municipal leader highly appreciated the signing of Memorandum of Understanding between HCMC and ADB. Accordingly, the bank will support the city to attain targets of the socio-economic development in the period 2020-2035.
For his part, ADB Country Director for Vietnam Eric Sidgwick congratulated Vietnam on successfully handling COVID-19 pandemic. He believed that a memorandum of understanding (MoU) on cooperation between tHCMC and ADB is an effective way that will help the two sides to work more effectively.

By Thuy Vu - Translated by Kim Khanh

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