An agreement to this effect was signed between the State Bank of Vietnam, the Ho Chi Minh City Department of Transport Works and the Asia Development Bank in City on May 3.

The grant, sourced from ADB’s Japan Special Fund and financed by the Government of Japan, will help prepare a project to develop rail lines.

The two lines, projected to cover a total of 20.6 kilometers, with 22 stations, will traverse the City’s central business district.

Between now and 2020, the city has planned to develop six MRT lines with an estimated budget of over US$5 billion. The technical assistance grant will make preparations for two of these six lines.

ADB is coordinating with the Japan Bank for International Cooperation (JBIC), which is supporting another 19 kilometer line, to implement a wider intermodal and integrated urban transport system in HCM City, and to co-design the main central station at Ben Thanh market.

The project is expected to be completed in April 2008.