Vietnam, ADB Sign Agreement for Reform Programme and Hanoi Metro Project

 

The signed agreements include a US$230 million policy loan for the Improving Competitiveness Programme, which will support the Economic Management Competitive Credit Programme - a joint development partner budget support program aligned to the national reform priorities of the government. The programme will support government reforms in six policy areas, including the financial sector, fiscal policy, public sector administration and accountability, State enterprise management, public investment management, and the business environment.

 

The second agreement is for a US$4.2 million loan for the Strengthening Sustainable Urban Transport for Hanoi Metro Line 3 Project, which has a total investment of US$58.95 million. The project will support the effectiveness and sustainability of another ADB-financed project, the Hanoi Metro Rail System Project (Line 3: Nhon-Hanoi Station Section), by improving access to stations, and enhancing connectivity between the line and other modes of public and private transport. The project will also strengthen urban transport policies and regulations.