The Asian Development Bank is providing USD636 million for the construction of a modern expressway in the southern district of Vietnam’s Ho Chi Minh City.
The loan is part of ADB’s USD1.1 billion financing package for two major transportation projects that aim to unclog the city’s overcrowded roadways. The package includes the USD540 million that will be used to help construct a second mass transit line in the city, as Devex has reported.
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“These projects will significantly reduce traffic congestion, help lower traffic accidents, and abate carbon emissions,” said James Lynch, head of ADB’s Transport and Urban Transport Division for Southeast Asia, in a news release.