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India gets $176-M ADB loan for Jaipur Metro
Publication Date : 30-05-2014
The Asian Development Bank (ADB) and the government of India have signed a $176 million loan that would fund the extension of Jaipur’s first metro train line. Extending the line will reduce both congestion and pollution in the fast-growing Indian heritage city.
“Efficient and modern public transport is key to making cities more livable by making it easier for people to get to their workplace and home again. It also means fewer cars on the roads which also leads to cleaner air,” said Mr M Teresa Kho, country director of ADB’s India Resident Mission, who signed the loan agreement on behalf of ADB.
Nilaya Mitash, joint secretary (multilateral institutions), department of economic affairs at the ministry of finance, signed on behalf of the government of India. The project agreements were signed by DB Gupta, principal secretary, urban development and housing, Government of Rajasthan and Mr Nihal Chand Goel, chairman and managing director, Jaipur Metro Rail Corporation Ltd.
In July, a new 9.7-km elevated Line 1 metro train line from Mansarovar, in the western part of the city, to Chandpole, on the western edge of the central business district will open. ADB’s loan will help finance an additional 2.3 km underground stretch from Chandpole to Badi Chopar.