Photo: giaothongvantai

An agreement to provide credit for the second metro line project in Ho Chi Minh City was signed on the morning of December 6th between the Vietnamese Deputy Finance Minister, Tran Xuan Ha, and Vice-President of the European Investment Bank (EBI).

The project is also funded by ADB and KfW.

Under the agreement, EIB will loan Vietnam a credit of EUR 150 million.

At the signing ceremony, the two sides stressed that the funding will help improve the quality of life of local dwellers and reduce traffic congestions in the city.

According to the project managers, the funding will then be used to build the 11.3 km of railways, 11 stops and to acquire carriages.

Under the design, the metro line will have a transportation capacity for some 140,000 passengers per day in the first year after the project accomplishment and the capacity will be raised in the following year.

Source: DDDN

Translated by Thu Nguyen