German KfW bank finances second subway line project in HCM City

An official signing ceremony of the first credit agreement worth 28 million euro (over $38.55 million) will take place on March 1, 2011 in Hanoi between German and Vietnamese governments to build the second metro line in HCM City.

The investment capital for the project will be syndicated by Asian Development Bank (ADB), European Investment Bank (EIB) and Germany’s Bank (KfW).

The 28 million euro first agreement between KfW and Vietnam will include 10 million euro ($13.77 million) of non-refundable aid and 18 million euro ($24.786 million) of loan. This is a part in the Germany government’s supports to Vietnam totalled at 240.75 million euro ($331.5 million), including 85.75 million euro ($118.1 million) of non-refundable and 155 million euro ($213.44 million) of commercial loan, to carry out the project.

Also on this occasion, the Ministry of Finance and KfW signed another credit agreement worth 34 million euro ($46.82 million) to finance for six of 12 projects of clean water supply and environmental sanitation in some localities. – Chinhphu

Tags: Vietnam Infrastructure

Posted by VBN on Mar 2 2011. Filed under Infrastructure. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry