France to lend Vietnam 160 million dollars for rail

7th February 2007, Comments 0 comments

HANOI, Feb 7, 2007 (AFP) - France will loan Vietnam 123 million euros (160 million dollars) for urban and regional rail projects in the country's north and flood control systems in the south, its embassy said Wednesday.

HANOI, Feb 7, 2007 (AFP) - France will loan Vietnam 123 million euros (160 million dollars) for urban and regional rail projects in the country's north and flood control systems in the south, its embassy said Wednesday.

 An 80-million-euro loan, part of an agreement to be signed Thursday, will help build a 12.5-kilometre (7.8 mile) light rail line in Hanoi, the capital's first mass transit system, with both elevated and underground sections.

The line will carry 124,000 passengers a day, easing traffic congestion and air pollution, the French Development Agency said. Hanoi hopes to open the route when the city marks its 1,000 years anniversary in 2010.

The French Ministry of Economy and Finance committed 200 million euros for the project last October.another loan worth 32 million euros will help upgrade a 285-kilometre stretch of railway between Hanoi and the Chinese border, the Yen Vien Lao Cai line, scheduled to be completed by 2011 or 2012.

The total 160-million dollar project, co-financed by the Asian Development Bank, will boost economic and tourism development in Vietnam's north and form part of a regional rail link between Singapore and Kunming in southern China.

A third loan, totalling 11.4 million euros, will be used to strengthen flood control and build irrigation and sanitation canals and bridges in the southern commercial hub of Ho Chi Minh City.

Copyright AFP

Subject: French news, International politics, Vietnam

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