On 26 June 2016 in Ho Chi Minh city, BIDV collaborated with Ho Chi Minh city People’s Committee and Trung Nam Group to kick off the anti-flood project for the city, taking into account climate change – phase 1.

 

​The USD450-million project is under Build – Transfer (BT), aiming to prevent tidal flooding in a 570-sq km area where 6.5 million people live in the inner city and along the bank of the Saigon River.

The project will be carried out over three years and will end in 2018.

The project will help control tidal flooding and cope with climate change and reduce water level in canals to improve drainage capacity as well as improving landscape and environment.

BIDV said to finance up to 89% of total investment value of the project up to 10 years and grace period for principal up to 03 years.

Addressing the kick-off ceremony, Mr. Tran Bac Ha, BIDV Chairman, emphasized “As the financial institution trusted and assigned by the Government to finance the project, BIDV is committed to complying with the directions of the Government and the State Bank of Vietnam, ensuring provision of credit and banking services in a timely and scheduled manner.

The project will help ensure the living conditions and safe economic development for the city, strengthen the trust of investors and leverage the image of a modern urban city, affirming Ho Chi Minh city as a key economic hub of the country”. Mr. Ha added.

 

For more information, please contact:

Bank for Investment and Development of Vietnam JSC

Branding and Public Relations

Tel: 04. 22205256; Fax: 04. 22225316.