EIB Supports Its Second Metro Line Project in Vietnam

The European Investment Bank (EIB) has granted a EUR150 million loan to Vietnam to finance the construction of a metro line project in Ho Chi Minh City. The finance contract was recently signed in Hanoi by EIB Vice-President Magdalena Álvarez Arza, and the Vice Finance Minister of Vietnam Tran Xuan Ha.

 

The EUR 150 million operation is designed to finance the construction of metro Line 2 in Ho Chi Minh City. The new metro line will extend over 11.3 kmand have 11 stations in the central area of the city. The project also includes the construction and equipment of a new depot well as the acquisition of new rolling stock to operate the line. The new metro line will directly benefit 140,000 daily passengers in the opening year. The operation is being co-financed by the Asian Development Bank and KfW.

 

The project will significantly contribute to improving quality of life in Ho Chi Minh City by increasing mobility, alleviating traffic congestion and providing a cleaner and quicker alternative to motorbikes and private cars.