The financing comprises $7 million from ADB’s ordinary capital resources and, $6 million from the Leading Asia’s Private Infrastructure Fund (LEAP) administered by ADB. The financing package also includes a parallel cofinancing of $7 million from the Japan International Cooperation Agency.
“Viet Nam’s rapid urbanization and economic growth has led to a sharp increase in municipal and industrial waste, and yet long-term financing for waste treatment plants remains a challenge,” said the Director General of ADB’s Private Sector Operations Department Suzanne Gaboury. “This project addresses the pressing need for efficient waste management in Binh Duong province and provides a strong case for commercial lenders to consider future investments to make cities more livable and develop ways of generating renewable energy that help tackle the causes of climate change.”
“A rapid increase in municipal and industrial waste in fast-growing parts of Viet Nam is straining the country’s waste management system, and if unchecked can threaten public health,” said ADB Director General for Southeast Asia Ramesh Subramaniam. “This project supports Viet Nam’s continuous efforts to improve the overall waste management system. It will provide a model for other Viet Nam provinces and surrounding countries seeking to reduce waste through modern processing systems and reduce the amount of waste that ends up in landfill.”
BIWASE was founded in 1975 as a government-owned entity and is one of the largest industrial solid-waste treatment providers for industrial and commercial users in Viet Nam. It became a joint-stock company in 2016 and was listed on the Ho Chi Minh Stock Exchange in 2017. BIWASE is the sole provider of municipal solid waste treatment for the Binh Duong province including collection, recycling, treatment, and final disposal.
