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.