Binh Duong provincial People’s Committee on working session with ADB

* Biwase receive USD 20 million loans of ADB and JICA for compost production

In the morning of December 9, Mai Hung Dung - Standing Member of Binh Duong provincial Party Committee, cum Standing Deputy Chairman of the provincial People's Committee and leaders of some departments and branches received and worked with the Asian Development Bank (ADB) delegation led by Keiju Mitsuhashi - Deputy Country Director of Resident Representative Office in Vietnam.

At the meeting, Keiju Mitsuhashi, said that ADB is signing a contract with Binh Duong Water, Sewerage, Environment Joint Stock Company (Biwase) for a concessional loan of USD 20 million without government guarantee to implement 2 projects of compost production with a capacity of 840 tons a day and a garbage incinerator with a capacity of 200 tons a day combined with heat collection and power generation of 5 MW/hour.

Mai Hung Dung and delegates witness the signing ceremony

Keiju Mitsuhashi expressed his trust and appreciation for Biwase's efficient capital use in environmental remediation projects, hoping that Biwase, with the experience and success in the past time, will continue to promote such effectiveness for the environment thanks to the project loans. In order for the project to achieve good results, Keiju Mitsuhashi suggested the province consider timely adjusting the price of clean water supply and waste treatment services in line with the current situation in order to use Biwase's loan capital resources for the best results.

In the coming time, ADB will continue to work closely with the provincial People's Committee to be able to implement many projects in other fields, especially public investment projects or public-private partnership projects. Mai Hung Dung said the province is determined to sustain green and sustainable growth, and at the same time wishes that the preferential loan from ADB will contribute to improving Biwase's capacity of waste treatment. Mai Hung Dung asked Biwase to use the loans transparently, effectively and in accordance with the laws to create confidence at ADB which would extend more support for many other meaningful projects.

In the afternoon of the same day, Biwase held a signing ceremony on a contract for an unsecured government loan with ADB and the Japan International Cooperation Agency (JICA). Attending and witnessing the signing ceremony was Mai Hung Dung - Standing Member of the provincial Party Committee, cum Standing Deputy Chairman of the provincial People's Committee, representatives of ADB, JICA and leaders of some departments and branches.

Under the contract, Biwase is entitled to a concessional loan of USD 20 million, including USD 7 million from ADB's ordinary capital sources and USD 6 million from Asia's leading private sector infrastructure fund managed by ADB and a parallel loan of USD 7 million from JICA to serve the project of compost factory with a capacity of 840 tons a day, a garbage incinerator with a capacity of 200 tons a day with ability to generate 5MW/hour. When the project is completed, 2,520 tons a day will be sorted, separated, filtered, sorted and recycled, and the rest will be burned and the used heat is to generate electricity with a capacity of 5MW/h.

Reported by Minh Duy – Translated by Vi Bao