City seeks WB loans for bus, flood control projects Le Anh By Le Anh – The Saigon Times Daily HCMC – The HCMC government has suggested the Ministry of Planning and Investment add its bus rapid transit (BRT) and flood control projects to the list of projects in need of the World Bank’s financial aid in 2015-2018. HCMC estimated more than US$1.5 billion would be required for around seven bus rapid transit and flood control projects planned for the period and expected most investments of these projects would come from the international lending institution. At a meeting held last month to announce the Government’s approval for a master plan on HCMC’s socio-economic development until 2020 with a vision to 2025, leaders of HCMC said that the city was looking for around US$470 billion for infrastructure and urban development between 2011 and 2025. Particularly, the investments for the 2016-2020 period alone will amount to US$140 billion but the city’s budget can cover a mere 10% of this. Apart from the WB’s official development assistance (ODA) loans, HCMC also plans to issue bonds and count on other channels to mobilize capital to beef up its growth. The HCMC People’s Council approved basic construction investments of nearly VND43.3 trillion from the city’s budget in 2013-2015, including over VND12.8 trillion for 2013, less than VND14.5 trillion for this year and nearly VND15.9 trillion for 2015.