Nadi: Asian Development Bank (ADB) has agreed to provide Rs 30,000 crore fund for the rapid rail passage between Delhi and Meerut and four metro rail projects to better the urban transport system in India.
On Wednesday, ADB Director-General (South Asia) Hun Kim said that various discussions are going on with other multi-lateral parties for co-financing these urban transportation projects in India, such as the Bhopal and Indore metro projects. Also, other projects, particularly the expansion of Chennai and Bengaluru metros, are on the table, he said at the annual meet of ADB here.
“ADB has in-principle agreed to finance these projects with the Centre, which is the guarantor. It depends on the client. If they complete the formalities, we’re ready to go (for final approval from the board).”, he said.
In the past, ADB has funded the expansion of Mumbai Metro, and Jaipur Metro. Earlier this year, the government sanctioned Rs 30,274 crore for the Regional Rapid Transport System (RRTS) to create a smooth corridor between the national capital and Meerut through Ghaziabad. The 82-kilometre distance will be covered in less than an hour via this corridor.
The RRTS is a unique, rail-based, high-speed regional transit system to be developed in India. Once it is operational, it will be the most comfortable, safest and fastest mode of passenger transport in the National Capital Region (NCR).