Centre, Asian Development Bank sign two loan pacts worth $250 million

Manila-based Asian Development Bank (ADB) on Monday said it has approved two loans, including funding for the construction of an 82-km Delhi-Meerut Regional Rapid Transit System (RRTS) corridor, of USD 250 million each.
The other loan of USD 250 million towards continued support to industrial corridor development to make manufacturing more competitive, strengthen national supply chains and links with regional and global value chains, and create more and better jobs.
Earlier, ADB approved a USD 1,049 million Multi-tranche Financing Facility (MFF) for the project in 2020 to support the construction of RRTS, the first of three priority rail corridors planned under the NCR Regional Plan 2021, to connect Delhi to other cities in adjoining states, a finance ministry said in a statement.
The RRTS will have multi-modal hubs to ensure smooth interchange with other transport modes, it said, adding the first tranche of the ADB loan amounted to USD 500 million with another USD 500 million …