The German Reconstruction Bank (KfW) plans to provide a second loan worth EUR212.75 million (USD306.36 million) to fund the construction of metro line No 2 in Ho Chi Minh City.
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| Metro model |
Prime Minister Nguyen Tan Dung on June 1 approved the content of the draft loan agreement and entrusted the Ministry of Finance, on behalf of the government, to sign the deal with KfW.
On January 3, 2011, the first credit contract worth EUR28 million (USD40.32 million) for the project was inked.
The project is divided into two stages, with the first designed to build a 12-km section, which will run through districts 1, 3, 10, Tan Binh, Tan Phu with 11 stations. Launched on August 24, 2010, the project is scheduled for completion in 2016.