59 million USD for Hanoi urban railway line 3 project

Of which, ODA capital is 53.20 million USD, counterpart capital is 5.8 million USD arranged by Hanoi city budget.

The Prime Minister has just issued a document approving the list of projects "Enhancing sustainable urban transport for Hanoi Urban Railway Line No. 3 Project" with loans from the Asian Development Bank (ADB) and the Clean Technology Fund (CTF).

The project investment capital is 59 million USD, of which ODA capital is 53.20 million USD (ADB loan capital is 4.2 million USD from ADF, CTF loan capital is 49 million USD), counterpart capital is 5.8 million USD arranged by Hanoi city budget.

The project will be implemented over 4 years, from 2014-2018. Hanoi City People's Committee is the project's governing body.

The project aims to develop a multi-modal, environmentally friendly public passenger transport system; encourage passengers to switch from using personal vehicles to using public passenger transport, towards the vision of developing the capital into an ecological, civilized and modern urban area.

The project will construct access works to the urban railway line to ensure public transport connectivity for 12 stations and bus stops between stations; apply public transport solutions.

The Prime Minister assigned the Ministry of Finance to preside over and coordinate with relevant agencies to determine a specific financial mechanism for the Project, report to the Prime Minister for consideration and decision; the Hanoi People's Committee shall receive comments from relevant agencies, complete the Project documents and carry out procedures for preparation, appraisal and approval of the Project in accordance with the provisions of Decree No. 38/2013/ND-CP dated April 23, 2013 of the Government on management and use of official development assistance (ODA) and preferential loans from donors.

The State Bank of Vietnam and relevant agencies will implement the next steps in accordance with current regulations./.

According to vov