Government of India & NDB sign USD 500 mn agreement for ‘Delhi-Ghaziabad-Meerut Regional Rapid Transit System Project’

Government of India & NDB sign USD 500 mn agreement for ‘Delhi-Ghaziabad-Meerut Regional Rapid Transit System Project’

• The Ministry of Housing and Urban Affairs, National Capital Region (NCR) Transport Corporation Limited and the New Development Bank (NDB) has signed a loan agreement worth $500 million for the ‘Delhi-Ghaziabad-Meerut Regional Rapid Transit System Project’.
• The project aims to provide fast, reliable, safe and comfortable public transport system in the National Capital Region (NCR).
• The total cost of the project is estimated at $3,749 million.
• This includes financial support by the NDB (USD 500 million), Asian Infrastructure Investment Bank  ($500 million), Asian Development Bank  ($1,049 million), Japan Fund for Poverty Reduction ($3 million), and Government and Other sources ($1,707 million). 
• The RRTS system will help in achieving the goal of sustainable urban development in the NCR region by reducing the total emissions from the transport sector in NCR.
• It will enable carrying many times more people at high speed (average speed 100 Kmph) while occupying just 3 m space on land thus reducing congestion on the roads.