(VOV) - The World Bank’s Board of Executive Directors have approved a loan of 124 million USD to improve the performance and capacity of public transport along a key transport corridor in Ho Chi Minh City.
The project will finance the development of a Bus Rapid Transit corridor between An Lac in the southwest and Rach Chiec in the northeast, following the Vo Van Kiet and Mai Chi Tho Boulevards, stretching about 23 kilometers, with 28 stations. The system, once completed, will be able to transport up to 28,000 passengers a day.
The Project has a total cost of 137 million USD and will be financed by the International Development Association credit equivalent to 124 million USD. The remaining investment will be co-financed by the Vietnamese government.