The State Bank of Vietnam (SBV) will negotiate with the Asian Development Bank (ADB) to seek funding for the $1.2bn second Metro project in Ho Chi Minh City, Vietnam.
The SBV will negotiate with the ADB on behalf of the Vietnamese Government and will complete the concerned procedures with ministries in the country for the discussions.
Vietnam started work on its second metro route in August this year.
Upon completion, the 12km, 11-station Metro Route No 2 will run through districts 1, 3 and 10, Tan Binh and Tan Phu districts in the city, according to the Vietnam News Agency.
Construction is expected to be complete in 2015 with commercial services starting in 2016.
Funding is expected to be provided partly by the government and from loans from the ADB, the Overseas Development Administration and the European Investment Bank.
