The credit was signed in Hanoi on December 6 by the Ministry of Finance and the EIB, along with other donors, the Asian Development Bank (ADB), the German government-owned development bank KfW.

The metro line was planned to stretch 11.3km and 11 stations in the HCM City centre. Once in operation it will carry out around 140,000 passengers per day in the first year.

Speaking at the signing ceremony, Deputy Minister of Finance, Tran Xuan Ha said the project will help improve the local people’s living conditions by shortening work travel time as well as reducing CO2 exhaustion.

The second metro line in Ho Chi Minh City was planned for a has total length of 20km, beginning at Thu Thien and ending in An Suong Bus Station with a total investment capital of more than US$1,347 million. The project is divided into two phases. In the first phase, the line will cover the 11.3km from Ben Thanh Market to Tham Luong.  

Regarding the financial arrangement, the ADB will loan US$540 million, the EIB 150 million euro, while KfW pledges to provide 240 million euro, including a 85.75 million euros under the form of official development assistance from the German Government.