KfW to provide 212.75 mln EUR for metro project
The German Reconstruction Bank (KfW) plans to provide a second loan worth 212.75 million euro to fund the construction of metro line No 2 in Ho Chi Minh City.
Prime Minister Nguyen Tan Dung on June 1 approved the content of the draft loan agreement and entrusted the Ministry of Finance, on behalf of the government, to sign the deal with KfW.
On January 3, 2011, the first credit contract worth 28 million euros for the project was inked.
The project is divided into two stages, with the first designed to build a 12-km section, which will run through districts 1, 3, 10, Tan Binh, and Tan Phu with 11 stations.
Launched on August 24, 2010, the project is scheduled for completion in 2016.
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