A deal for the funding was signed by the bank and the state-owned Binh Duong Water Environment Jsc. The funds will be used to upgrade the Tan Hiep Water Treatment Plant, meeting increasing demand for water among residential and industrial customers in Thu Dau Mot Town.
Industrial zones in the town provide jobs for nearly 1.3 million locals and more than 500,000 foreigners, the ADB said in a statement Tuesday.
The upgrade will increase production capacity, install additional water intake pumps, and build raw water transmission pipes from the Dong Nai River intake facility.
The financing package also includes a parallel co-financing of $8 million from the Japan International Cooperation Agency, and a further $500,000 in technical assistance will be provided by the e-Asia and Knowledge Partnership Fund.
“This financing will deliver sustainable and efficient water supplies in this fast-growing province, spurring its future growth and contribution to the broader economy,” said Jackie B. Surtani, infrastructure finance division director for Southeast Asia, East Asia, and the Pacific under the ADB’s private sector operations department.
ADB has supported Vietnam’s water sector since 1993 through seven sovereign loans.
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