ADB Backs Rail Project in Indian CityBy Ivy Mungcal 01 April 2011
The Asian Development Bank has approved a $250 million loan for the construction of a metro railway system in Bangalore, one of India’s fastest-growing cities.
The loan will go toward the Bangalore Metro Rail Transit System Project. It will partly finance 42.3 kilometers of rail track, rolling stock, stations, and equipment for two key routes in the city.
The overall metro rail project is the first of its kind in South Asia to be funded by ADB. It is expected to reduce road congestion and pollution and provide the city with a safer, faster and more fuel-saving transportation system.
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