The capital city of Hanoi will issue bonds worth 3 trillion VND (142.86 million USD) later this month to raise funds for its traffic infrastructure development from 2014 to 2015.

Dao Thai Phuc, Director of the State Treasury's Hanoi unit, recently said the bonds will be auctioned on the Hanoi Stock Exchange and underwritten by securities companies, commercial banks and other authorised financial institutions.

The bonds will have a fixed interest rate during the period. The money to be raised will be used to fund some of the city's key traffic projects, including belt roads No.1 and No.2 and the extension of Highway 5, all to be completed by the end of next year.

Phuc said his agency will closely control financing to guarantee efficiency and punctuality in the projects' implementation.-VNA