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ADB – HCM City’s important development partner: municipal leader

Ho Chi Minh City appreciates contributions of the Asian Development Bank (ADB) to its socio-economic development, and always considers the bank an important development partner, a municipal leader has said.
ADB – HCM City’s important development partner: municipal leader ảnh 1At the signing ceremony of the MoU between HCM City and ADB (Photo: VNA)

HCM City (VNA) – Ho Chi Minh City appreciatescontributions of the Asian Development Bank (ADB) to its socio-economicdevelopment, and always considers the bank an important development partner, amunicipal leader has said.

At a reception for ADB Country Director for VietnamEric Sidwick on June 11, Chairman of the HCM City People’s Committee NguyenThanh Phong thanked the bank for its timely financial assistance and policyconsultation to developing member countries, including Vietnam, in the fightagainst COVID-19.

He also thanked the bank for its support to HCM Cityin mitigating the pandemic impact on the progress of projects using ADB loansin the locality.

HCM City suggested the ADB facilitate its access to preferential loans for Metro Line No. 2, the first phase of Metro Line No.5 and the sustainable urban transport project for Metro Line No. 2.

Sidwick said Vietnam is one of the very few countriesin the world that have not experienced growth decrease despite of the pandemic.

ADB not only supports Vietnam’s development programmesbut also learns from and shares the country’s experience with other countries,especially in fighting the epidemic and maintaining economic growth.

COVID-19 has partially affected the progress ofADB-funded projects in HCM City, but the bank is resolved to implement itscommitments to financial support and technical advice to the city, he said.

Following the meeting, Vice Chairman of the HCM CityPeople’s Committee Vo Van Hoan and the ADB Country Director for Vietnam signed a memorandumof understanding (MoU) on cooperation between the two sides.

Under the MoU, the HCM City and the ADB will conductregular consultations, improve the efficiency of the existing projects usingADB loans, identify potential projects and promote the development of theprivate economic sector and the involvement of different sectors in the city’ssocio-economic development.

Phong lauded the signing of the MoU, saying itsimplementation would contribute to advancing collaboration between the twosides.

Sidwick said under the deal, the two sides can seek thebest working methods for both./.
VNA
#Ho Chi Minh City #Asian Development Bank #socio-economic development #ADB Country Director for Vietnam #Eric Sidwick #Vietnam #VietnamPlus #Vietnam news Ho Chi Minh City
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