World Bank, Switzerland support HCM City’s new Bus Rapid Transit corridor
(VOVWORLD) - The World Bank and the Ministry of Finance signed a financing agreement on Wednesday for a grant worth 10.5 million USD to promote integrated urban development and transport connectivity along a new Bus Rapid Transit corridor in Ho Chi Minh City.
 The World Bank and the Ministry of Finance sign the agreement in Ho Chi Minh City on January 15, 2020. (Photo: cand.com.vn) |
The grant, provided by the Government of Switzerland and administered by the World Bank, comes as additional financing for the World Bank’s ongoing Ho Chi Minh City Green Transport Development Project that is developing a new Bus Rapid Transit corridor. This line, with 28 stations stretching along 23 kilometers, will provide a reliable ride service between the city center and southeastern and northwestern suburbs.
The key economic benefits include reduction in travel times and vehicle operating costs and improvement of traffic safety. These benefits are estimated to be worth more than 120 million USD over the project’s lifespan.