According to JICA, this is the fourth ODA loan for the project with a value of 41 billion yen (6,780 billion VND). The construction of the Ben Thanh - Suoi Tien metro line 1 will help reduce traffic congestion and air pollution, while promoting regional economic growth.
Metro Line 1 Ben Thanh - Suoi Tien
The project will also contribute to the achievement of Sustainable Development Goals 9 (industry, innovation and infrastructure), 11 (sustainable cities and communities), and 13 (climate action).
The ODA loan for this project will apply the Special Conditions for Economic Partnership (STEP) which is a special loan condition to promote Japan's support through the transfer of Japan's renowned technologies and expertise to developing countries.
Japanese technology applied to the project includes underground construction techniques, locomotives, electrical - communication - signaling systems and maintenance services.
Previously, in Tokyo (Japan), within the framework of the Summit program to celebrate the 50th anniversary of ASEAN - Japan relations, witnessed by Prime Minister Pham Minh Chinh and Japanese Prime Minister Kishida Fumio, the Ministry of Finance exchanged notes for the 4th STEP loan of the Japanese Government to finance the construction project of metro line No. 1.
This is the fourth follow-up loan, after three loans for the project in 2007, 2012 and 2016, committed by the Japanese Government to finance the project to continue to supplement capital, contributing to the completion of this important project and realizing the goal of sustainable socio-economic development of Vietnam.
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