10:50 | 01/09/2017 Finance - Banking
Chairman of the Ho Chi Minh City People’s Committee Nguyen Thanh Phong has expressed his wish to continue receiving support from the KfW Development Bank of Germany in KfW-funded projects in the city.
|At the meeting - Source: VNA|
During a working session in Ho Chi Minh City on August 29 with KfW Country Director Christian Haas, Phong said the city agrees with KfW’s proposal regarding an additional loan worth 200 million EUR for key routes of metro line No.2 and pledges to work closely with the Finance Ministry and KfW on the loan.
About a project on non-refundable aid for the metro line No.2 provided by the European Commission (EC), the municipal railway management board proposed a sum worth 6 million EUR. The EC will decide on the proposal soon.
Haas said KfW will also provide a 200 million EUR loan for a policy support project in Vietnam, which will be disbursed in 2017 and 2018, adding that the lender offers different incentives to such loan packages, which have been submitted to the Finance Ministry and the municipal Finance Department.
According to the municipal railway management board, the Prime Minister on August 28 signed a decision to extend the duration for the construction of the metro line No.2 until late 2020.
Regarding adjustments to the key routes of the metro line No.2, the municipal authorities sent documents to concerned departments and agencies and will report to the PM, it added.