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Hanoi seeks to fund urban railway project with ODA, preferential loans

The People’s Committee of Hanoi has proposed the municipal People’s Council add the urban railway project No 3 to the list of projects funded by official development assistance (ODA) and preferential loans from foreign donors.

The project will build the railway section from the Hanoi Railway Station to Hoang Mai district during 2021 to 2025. 

 

 

The project will build the railway section from the Hanoi RailwayStation to Hoang Mai district during 2021 to 2025 at total investment capitalof over 40.57 trillion VND (1.74 billion USD). Of the sum, about 34.29 trillionVND (1.47 billion USD) is slated to be sourced from ODA loans while theremainder comes from the local budget.

The Government will assess the project and submit it to theNational Assembly for approval.

The Asian Development Bank (ADB) has committed to providing 450million USD for the project.

Meanwhile, the GermanDevelopment Bank (KfW), theFrench Development Agency (AFD), the French Government and the World Bank arealso interested in granting ODA loans to the project. -VNA

 

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