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Vietnam Today

Additional French funding for Hanoi railway

Released at: 11:25, 14/12/2014

Additional French funding for Hanoi railway

France has confirmed an additional $105.8 million for Hanoi railway project.

by Minh Tuyet

A financial protocol to provide $105.8 million for the Hanoi railway project Line No.3 was signed by Minister of Planning and Investment Bui Quang Vinh and the French Ambassador to Vietnam, H.E. Nam Jean-Noël Poirier, on December 12.

The protocol provides additional capital for the $311.4 million that has come from the Emerging Markets Reserve (RPE), the French Agency for Development (AFD), the Asian Development Bank (ADB) and the European Investment Bank.

Co-financed by AFD, Line No.3 is 12.5 km in length with 4 km underground and 8.5 km elevated and is expected to be the first line to open in the capital.

The French Embassy has expressed its pleasure with project progress though last year the Chairman of the Hanoi People's Committee, Mr Nguyen The Thao, said it was proceeding too slowly.

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