After 10 years of operation, the Da Nang Investment and Development Fund has signed loan agreements totalling 2,116 billion VND with 120 local project developers involved various aspects. 

The 2nd facility of the SKY-LINE High-quality Pre and Primary School

In detail, 394 billion VND in loan has been offered to projects involved in electrical grid infrastructure, 66.6 billion VND for water supplies, 403 billion VND for educational infrastructure, 220.7 billion VND for medical facilities and equipment, 593.7 billion VND for traffic and urban infrastructure and apartments, 437.4 billion VND for local economic development. 

The chart showing the Fund’s loan provisions for specific local aspects over the past decade

Many projects using preferential loans from the Fund have been put into use and operated efficiently.  Most notable amongst them are the Hue T-junction overpass, the 2^nd facility of the Dong A University at 33 Xo Viet Nghe Tinh, the Dai Dia Bao residential area, the movement of power cables underground along the section as part of a specialised shopping area project along a section of Le Duan Street and the SKY-LINE High-quality Pre and Primary School.

Thanks to preferential loans from the Fund, the building and refurbishment of a total of 34 local primary schools have been deployed.

Apart from providing loans for urban infrastructure projects, the Fund has given credit, worth 83.6 billion VND in total, to 6 local businesses over the past decade. 

In particular, the total capital of the Fund has raised from the initial investment of only 200 billion VND in 2008 to 1,487 billion VND to date.  Of this figure, 880 billion comes from the city budget and the remainder is from other financial sources. 

In addition to using the city budget, the Authority of the Fund has become actively engaged in appealing for contributions from international financial organisations.  Most notably, the World Bank and the French Development Agency gave 216.4 billion VND and 317.6 billion VND in loan to the Fund by respectively in the 2 years since its establishment in 2008.  These loans have been used in environmental protection, education, healthcare, energy, social housing, water supplies and electricity projects. 

In 2014, a total of 1,100 billion VND was collected by the Fund for the city budget through the issuance of local government bonds.

The Fund has been entrusted by the municipal government to manage a guarantee fund for the city’s small and medium-sized enterprises (SMEs).

In July this year, the Da Nang Port entered into a loan contract worth 180 billion VND for over a 13-year term at a preferential interest rate from the Fund to deploy the 2nd stage of its Tien Sa Port project. 

According to the General Director of the Da Nang Port, Mr Nguyen Huu Sia, loans given by the Fund indeed have helped his company effectively implement national-level construction projects without relying on official development assistance (ODA) capital sources.

The Chairman of the Board of Directors of the Da Nang Water Supply Company (DAWACO), Mr Nguyen Truong Anh, highly appreciated preferential credit packages from the Fund which have enabled his company expand its tap water supply network in the city and ensure adequate operating capital for the sake of its production and trade activities.