Japan, Vietnam sign over JPY41 billion loan for HCM City metro project
VOV.VN - The Japan International Cooperation Agency (JICA) has just signed an agreement to lend more than JPY41 billion to the Vietnamese Government for the construction of Metro Line No. 1 (Ben Thanh - Suoi Tien section) in Ho Chi Minh City.
This is the fourth loan the Japanese Government has committed to fund the metro line project, following three previous loans in 2007, 2012, and 2016.
Accordingly, the project will contribute to reducing traffic congestion and air pollution, while promoting regional economic growth.
The project will also help Vietnam achieve sustainable development goals, No. 9 (industry, innovation and infrastructure), No. 11 (sustainable cities and communities), and No.13 “Take urgent action to combat climate change and its impacts”.
Ho Chi Minh City’s Metro Line No. 1, also known as the Ben Thanh - Suoi Tien line, is to run nearly 20 km between Ben Thanh market in the downtown area and Long Binh Depot in Thu Duc city.
Construction work commenced in 2012 and the metro line is scheduled for completion in 2024.
