November 14, 2019 13:55

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ADB promises additional US$500 million for Metro 2 project

15:27 | 04/11/2016

The Asian Development Bank (ADB) plans to provide another loan worth US$500 million for Metro 2 project in Ho Chi Minh City, said ADB Vice President Stephen Groff.

adb promises additional us 500 million for metro 2 project

At a working session with Vice Chairman of the municipal People’s Committee Le Van Khoa in the city on November 3, Groff hailed the city’s efforts to accelerate the implementation of ADB-funded projects, particularly in transport, water supply and drainage.

However, he said the two sides should work together more closely to carry out these projects on schedule, especially in the stages of site clearance, resettlement and bidding.

The fruitful relationship between ADB and HCM City is reflected by the number of their joint projects, Stephen Groff said, adding that ADB wants to fund more development projects in the city.

The bank will join hands with the Japan International Cooperation Agency (JICA) in performing a drainage project in the city, Groff added.

For his part, Khoa spoke highly of the bank’s cooperation with the city and relevant agencies in implementing its projects, and pledged to ensure the schedule of urban transport and water supply projects.

He suggested that the two sides coordinate to tackle remaining difficulties regarding the loans for site clearance and the Metro 2 project.-

Source: VNA