The HCMC government will have to find at least VND74.35 trillion (US$3.34 billion) to fund flood control projects in 2016-2020, according to a report on flood control solutions released at a HCMC Party Committee meeting on Tuesday.

Flood in HCM City.

The city expects the amount to come from official development assistance (ODA) loans, the city’s budget, enterprises and other sources.

Of the total, ODA loans account for VND39.23 trillion (US$1.8 billion) and will be used to dredge and rehabilitate 32 kilometers of Tham Luong- Ben Cat-Nuoc Len Canal to improve water drainage for its 14,500-hectare basin.

The ODA funding will also go to construction of four wastewater treatment plants: Tan Hoa-Lo Gom, Western Saigon, Northern Saigon 1 and Binh Tan.

The city hopes to raise VND16.4 trillion (US$734.4 million) of the total from the business community.

Of these, the city has arranged VND9.93 trillion (US$444.7 million) for six sluices: Ben Nghe, Tan Thuan, Phu Xuan, Muong Chuoi, Cay Kho and Phu Dinh to control flood tides. After completion, the city will pay investors of the six projects by land.

The city is now finding investors for other projects such as Go Dua and Khanh Hoi reservoirs, and a project to dredge Xuyen Tam Canal worth a total of VND6.43 trillion (US$287.93 million).

Currently, the city is in dire need of upgrading the water drainage system and developing infrastructure to meet the demand of more than 10 million people, excluding migrant workers.

The report said the city will need almost VND97.3 trillion for flood control projects in the next five years and has arranged around VND22.95 trillion of the total for

projects under construction. They include the second phase of Binh Hung wastewater treatment plant worth VND11.3 trillion (US$506.5 million), Nhieu Loc-Thi Nghe wastewater treatment plant capitalized at VND10.09 trillion (US$451.94 million), and Tham Luong-Ben Cat wastewater treatment plant worth VND1.6 trillion (US$71.6 million).

The HCMC Center of the Urban Flood Control Program will complete the installation of monitoring systems for Nhieu Loc-Thi Nghe Canal and water drainage in the basin of Tan Hoa-Lo Gom Canal. Besides, new technologies will be used for water drainage and wastewater treatment projects in the city.