Loan agreement for US $500 million(Rs 3,750 crore) signed between ADB and Government of India

A loan agreement for US $500 million, which is the first tranche of approved US $1 billion loan, was signed today between the Government of India and the Asian Development Bank for funding the Delhi-Ghaziabad-Meerut RRTS Corridor. The signatories to the loan agreement were Mr. Sameer Kumar Khare, Additional Secretary, Department of Economic Affairs in the Ministry of Finance who signed for the Government of India, and Mr. Kenichi Yokoyama, Country Director of ADB’s India Resident Mission who signed for ADB. The proceeds of this tranche of US $500 million (Rs 3,750 crore) loan will be used for constructing electrified tracks, multimodal hubs, and stations with design features that are friendly to the elderly, women, children, and the disabled.