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Bangalore Metro gets $250 mn ADB loan

The Asian Development Bank (ADB) and the Bangalore Metro Rail Corporation Limited (BMRCL) on Tuesday signed a Facility Agreement for a $250 million loan through ADB’s non-sovereign lending window that signaled the multilateral lending agency’s first foray into the mass rapid public transport sector in South-Asia. The loan, approved by the ADB Board in March last year, will part-finance the Bangalore metro project that aims to ease traffic congestion in the city and help move 40,000 passengers a day. The metro project comprises of two corridors with a track length of 42.3 km. Part ...