German bank finances metro line

Chairman of the German-owned development bank, KfW Group, Ulrich Schruder, and the Ministry of Finance of Viet Nam on Mar. 1 signed the first loan agreement of US$38.7 million for the construction of the metro line 2 in HCM City.

It was the first tranche of a total commitment of $333 million, which the Federal Republic of Germany provides to the Government of Viet Nam for the construction of the line 2.

The 13km long subway line from Ben Thanh market in the city centre to Tham Luong, includes 10 stations. The total project cost of about $1.3 billion is co-financed by KfW, the Asian Development Bank and the European Investment Bank.

Under the framework of bilateral economic co-operation, Germany is making a substantial contribution to improving the traffic situation in HCM City by providing an environmental friendly mode of urban public transport.

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