IFC commits $15.3m to help Vietnamese access to clean water

The International Finance Corporation (IFC) January 9 announced to commit US$15.3 million in the form of a convertible loan to DNP Water Joint Stock Company to support clean water supply in Vietnam's urban areas.

Thanks to the loan of IFC , the private lending arm of the World Bank Group, DNP company will build two large-scale water treatment plants and acquire equitized water supply companies.
Meanwhile, only about 35 percent of the Vietnamese population is connected to piped water.
With the loan, the Vietnam-based private company plans to expand clean water supply to urban areas and increase its treatment and supply capacity by five times to one million cubic meters per day by the next eight years.
As per the two sides’ agreement, the aid package can be up to $24.9 million for the company’s growth strategy.
Vietnam needs investments worth $1 billion per year for urban water supply to meet its current and future growth demand, according to the World Bank.

By MINH HUY – Translated by UYEN PHUONG

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