VNEconomyNews.com - The government of HCMC will have to reach the World Bank (WB), the Asian Development Bank (ADB) or the European Investment Bank (EIB) to ask for 167 million euros in loans to finance a metro line.
The Spanish government has agreed to provide 500 million euros in loans for the city but it is not enough to complete the first phase of the mass rapid transit line from Bay Hien intersection to the Saigon Bridge.
Issues relating to the project were discussed at a meeting of the Vietnam-Spain Intergovernmental Committee on Monday.
Jose Carlos Garcia de Quevedo, director general for Trade and Investment at the Ministry of Industry, Tourism and Trade of Spain, who led a Spanish government delegation to the Hanoi meeting, said, “We can help with contacts or introduce the project to financial organizations.”
But for its part, HCMC should take the initiative first, he said at his meeting with city vice chairman Nguyen Thanh Tai on Wednesday.