The World Bank Group’s Board of Executive Directors approved a credit of US$124 million (with a maturity of 25 years) to improve the performance and efficiency of public transportation in a high-priority corridor in Ho Chi Minh City, the country’s principal economic hub. In addition, the project will finance at least 28 buses that will run on natural gas. The Socialist Republic of Vietnam will provide the remaining investment of US$ 13.45 million to cover the total cost of the initiative.
“To ensure continued strong economic performance and achieve Vietnam’s goal of successfully transitioning to middle-income status, the national government is seeking to address infrastructure constraints as one of its key strategic direction,” said Arturo Ardila-Gomez, the World Bank’s Project Team Leader. “Given HCMC’s pivotal role in the national economy, the project focuses on upgrading a key transport corridor to demonstrate the potential of a sustainable urban transport system.”
The project will finance the development of a Bus Rapid Transit corridor between An Lac in the southwest and Rach Chiec in the northeast, following the Vo Van Kiet and Mai Chi Tho Boulevards, stretching about 23 kilometers, with 28 stations. The system, once completed, will be able to transport up to 28,300 passengers a day. Its design aims to address the needs of women, children and people with disabilities. Design features include keeping all bus and station doors at the same level, making it easier for passengers to board.
The project also seeks to show the advantages of Bus Rapid Transit and help city authorities prepare for the implementation of a proposed six-line network and lay a foundation for HCMC to build the institutions needed to run an integrated public transport system in the future.
Source: World Bank