Center and AfDB sign $ 500 million loan agreement to expand Bangalore metro rail network

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The Ministry of Finance announced on Monday that the Government of India (GOI) and the Asian Development Bank (ADB) have signed a $ 500 million loan agreement to expand the Bengaluru metro rail network with the construction of two new lines. metro. According to the ministry, the two new metro lines are 56 km long.

ABD said the two new, mostly elevated metro lines will be built along the Outer Ring Road and National Route 44 between Central Silk Board and Kempegowda International Airport with 30 stations. Metro facilities, he added, will reflect the needs of vulnerable groups, such as the elderly, women, children and people with disabilities.

“The project supports the urban transformation of the city of Bangalore into a more liveable and sustainable city by supporting urban public transport and urban development with concepts of development focused on public transport (TOD) and multimodal integration (MMI). ) ”, Said Takeo Konishi, Country Director of the AfDB Resident Mission in India.

The companies said an additional $ 2 million technical assistance grant would help the Karnataka government formulate urban development plans and implement frameworks, focused on TOD and multimodal integration. The grant will also be used to strengthen the capacity of the Bangalore Metro Rail Corporation Limited and other government agencies to implement these initiatives.

Image Credit: PTI



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