The Asian Development Bank (ADB) signed an agreement with a financing package of 9.9 billion Thai baht ($311 million equivalent) for the construction and operation of the Pink and Yellow lines of Bangkok’s mass rapid transit (MRT) system.
“Bangkok’s continued status as one of Southeast Asia’s global business hubs depends on relieving traffic congestion and increasing sustainable public transport services,” said Deputy Director General of ADB’s Private Sector Operations Department Mr. Christopher Thieme. “ADB’s assistance will catalyze commercial financing for Thailand’s MRT sector and help provide a wider choice of affordable and efficient public transport for Bangkok’s rapidly growing population.”
ADB’s financing package is comprised of two B4.95 billion loans to the Northern Bangkok Monorail Company Limited (NBM) and the Eastern Bangkok Monorail Company Limited (EBM) for the construction and operation of the two new lines. These will add to the five existing lines currently operating in Thailand’s capital area.
Bangkok is famous for its heavy traffic congestion with some studies including it among the most congested cities in the world. The proportion of travelers using mass rapid transit as a share of total transit in Bangkok remains low as compared with peer cities. The number of private cars in Southeast Asia has more than doubled since 2000, and 30 million more passenger cars are expected to be added by 2040. The new lines will help cut down on air pollution from vehicles and greenhouse gas emissions while tackling traffic congestion.
Original source: ADB
Published on 04 June 2019
