Namma Metro: India, ADB sign $500m loan

The Union government and Asian Development Bank signed a $500 million loan for the 56km Outer Ring Road-Kempegowda International Airport corridor.

“An additional $2 million technical assistance grant from ADB will help the state government formulate urban development plans and their implementing frameworks, focusing on transit oriented development and multimodal integration. The grant will also be used to strengthen capacity of BMRCL and other state agencies to implement these initiatives,” ADB said in a note.

The new Metro lines (Central Silk Board-KR Puram-KIA) will strengthen safe, affordable and green mobility, and improve quality of life, said Rajat Kumar Mishra, additional secretary, department of economic affairs, who signed for India. BMRCL officials said they have completed financial arrangement for the ORR-KIA project. 

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