AfDB, Government Sign $ 500 Million Loan Agreement for Delhi-Meerut Highway, Auto News, ET Auto

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The signatories of the loan agreement for the Delhi-Meerut RRTS investment project were Sameer Kumar Khare, Additional Secretary (Fund Bank and AfDB) of the Department of Economic Affairs, and Kenichi Yokoyama, Country Director of the Resident Mission of AfDB in India.

New Delhi: The government signed a loan agreement of $ 500 million with the Asian Development Bank for the financing of the 82 kilometers Delhi-Meerut Regional rapid transit system (RRTS), the multilateral funding agency announced on Tuesday.

“The Asian Development Bank (ADB) and the Indian government today signed a loan of $ 500 million, the first tranche of a total facility of $ 1 billion, for the construction of a modern high-speed corridor 82 kilometers of the regional system of Delhi-Meerut Rapid Transit (RRTS) which will improve regional connectivity and mobility in India’s National Capital Region (NCR), ”ADB said in a statement.

The signatories of the loan agreement for the RRTS Delhi-Meerut investment project were Sameer Kumar Khare, Additional Secretary (Fund Bank and AfDB) of the Department of Economic Affairs, and Kenichi Yokoyama, Country Director of the Resident Mission of AfDB in India.

The first tranche of the loan will support the construction of the first of three priority rail corridors provided for in the NCR 2021 regional plan to link Delhi to other cities in neighboring states.

“The project will provide better connectivity to enable other cities in the NCR to develop as urban economic centers surrounded by residential areas while easing the pressure to concentrate on Delhi,” Khare said after the signing of the OK.

The development of this corridor will have a huge demonstration effect and pave the way for a paradigm shift in mobility and urban development model in the region, Khare said.

“The project is expected to have a transformational impact on the development trajectory of the National Capital Region by introducing high-level technologies for RRTS, signaling and station design,” Yokoyama said.

In addition, the project will also support transit-oriented development (TOD) with systematic urban planning and land use planning around the RRTS corridor while promoting the financing of value capture (VCF ) to generate additional municipal revenues, ”he added.

With a rated speed of 180 km / h and high frequency operations every 5 to 10 minutes, the 82 km corridor from Sarai Kale Khan in Delhi to Modipuram in Meerut in Uttar Pradesh is expected to reduce travel time to approximately 1 hour. from the present 3-4 hours. The RRTS will have multimodal hubs to ensure smooth exchanges with other modes of transport.

Funding from the first tranche will be used for the construction of electrified tracks, signaling systems, multimodal poles and stations with design features suitable for the elderly, women, children and people with disabilities, ADB said.

A $ 3 million grant from the AfDB’s Japan Poverty Reduction Fund will support various activities, including the provision of visual, hearing and mobility aids, such as wheelchairs for people with disabilities. -he adds.

The Manila-based funding agency said training for women and people with disabilities on safe mobility and employment opportunities and behavior change for public transport providers will also be provided.

In addition, the AfDB-administered Urban Climate Change Resilience Multi-Donor Trust Fund will provide US $ 2.89 million to support innovations in building information modeling, universal access design features, and development-driven development. public transport.

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