BRICS Bank Approves Loan worth USD 741 million for Mumbai Metro & Delhi-Ghaziabad-Meerut Rapid Rail

The Shanghai-based New Development Bank (NDB) has approved USD 741 million loan for two projects in India which includes Mumbai Metro and the Delhi-Ghaziabad-Meerut Regional Rapid Transit System (RRTS) Project.
From the total loan approved by the NDB Board, USD 241 million loan is for the Mumbai Metro Rail II Project.
The fund will be used for the purpose of implementing a metro rail Line 6 with a length of about 14.47 km to improve Mumbai’s transport and traffic conditions by providing a modern metro system, featuring high-capacity, safe and comfortable mode of transport.
Apart from this, the NDB Board has approved a loan of USD 500 million for the Delhi-Ghaziabad-Meerut RRTS Project.
The National Capital Region Transport Corporation Limited (NCRTC) will use the fund for construction of a rapid rail corridor connecting the National Capital Territory of Delhi with the cities of Ghaziabad and Meerut located in the state of Uttar Pradesh.