Techcombank to serve $175M transport project

Techcombank has beedn assigned by the State Bank of Vietnam to serve the urban transport development project in Hai Phong City funded by World Bank.

The project with a total investment $277 million, including an ODA loan of $175 million from the WB, and the rest from the domestic reciprocal fund, was signed on May 31, 2011 between Vietnam and representative from WB.

This is the first WB-funded project in Vietnam whose preparation cost financed by the investor (Hai Phong city) and accepted by the WB, that helps the city shorten the execution time and enlist a final WB ODA loan as the country has been listed out of underdeveloped countries.