Funding sourced for bus rapid transport project
Finance has been sourced for construction of the Vientiane Sustainable Urban Transport Project, also known as the Bus Rapid Transit, project to improve public transport and ease traffic congestion in central Vientiane, an official in charge of the project has said. The Asian Development Bank has provided a loan of US$35 million, while another loan of US$15 million was offered by the OPEC Fund for International Development, and a loan of US$20 million was provided by the European Investment Bank. The ADB says it has approved the US$35 million loan to help finance the bus rapid transit system and other transport innovations to improve traffic flows in Vientiane. The project comprises five main activities involving public transport systems, parking management and enforcement, and traffic management systems. The activities will also improve public spaces and non-motorised transport as well as institutional capacity.
