US$59 Million Metro Line 3 in Hanoi Gets Nod
Prime Minister Nguyen Tan Dung has approved on a US$59 million project on strengthening sustainable urban transport for Hanoi Metro Line 3 with loans from the Asia Development Bank (ADB) and the Clean Technology Fund (CTF).
The investment for the project includes US$53.2 million from official development assistance of ADB and CTF and US$5.8 million from Hanoi’s People’s Committee budget.
The 4 year project, which will start from 2014, aims to develop an eco-friendly public transport system and encourage passengers to change from individual transport means to public means with a vision of the city’s development towards an ecological, civilized and modern urban.
The Ministry of Finance has been assigned to work with relevant agencies to implement the project’s financial structure.
VGP
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