ADB Agrees to Lend Vietnam $540 Million for Subway Project
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The Asian Development Bank agreed to lend Vietnam $540 million for the construction of a subway line to reduce traffic congestion in Ho Chi Minh City, according to a statement from the lender released in Hanoi today.
Total investment for the project is about $1.37 billion, according to a separate government statement handed out at the signing ceremony today. Construction will start in 2012 and a test run is planned for 2016, the statement said.