Germany Finances Construction of Metro Line 2
The first loan agreement of EUR28 millionforthe metro line2 project inHoChiMinhCity was signed on March 1 by theMinistry of Finance of Vietnam and theChairman of the Board of Managing Directors of KfW Group, DrUlrich Schröder.
Thisisthe first tranche of a total commitment of EUR240.75 million,whichthe FederalRepublic ofGermanyprovides to theGovernment of Vietnam fortheconstruction of themetro line2 inHoChiMinhCity.The project covers the construction of a 13km subway line fromBenThanhmarketinthe citycentretoThamLuong, including 10stations.Thetotal project costofabout US$1.3 billionis co-financed by KfW, the Asian DevelopmentBankand the EuropeanInvestmentBank.
Under the framework of bilateral economic cooperation, Germany is making a substantial contributionto considerably improve the trafficsituationinHoChiMinh Cityby providingan environment friendly mode of urban public transport.
Giang Tu
Vietnamese
