India and ADB sign $500 million loans to expand Metro Rail Network in Bengaluru
Asian Development Bank (ADB) and the Indian Govt have signed a $500 million loan agreement. the loan amount will be used in expanding the metro rail network in Bengaluru with the construction of two new metro lines totaling 56 km in length.
- Under the project, two new metro lines will be constructed along Outer Ring Road and National Highway 44 between Central Silk Board and Kempegowda International Airport with 30 stations.
- The Project is about to decongest traffic in the city area and provide seamless connectivity to the airport.
About Asian Development Bank (ADB) –
- Headquarters: Mandaluyong, Philippines
- President: Masatsugu Asakawa
- Founded: 19 December 1966
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