India and the Asian Development Bank (ADB) sealed a pact on December 15 for a 37 billion Japanese Yen ($250 million) loan to sustain the development of the 82-kilometre Delhi-Meerut Regional Rapid Transit System (RRTS) corridor.
This corridor, traversing densely populated segments of the national capital region, promises swift, secure, and high-capacity commuting services. By drastically reducing travel time from 3-4 hours to approximately one hour, it is poised to broaden economic horizons and job prospects in the area.
Joint Secretary at the Ministry of Finance Juhi Mukherjee highlighted post-agreement that this investment initiative would empower RRTS to elevate urban mobility, extending its economic advantages to women and differently-abled individuals.
ADB’s Deputy Country Director Hoe Yun Jeong emphasized the pivotal role of ADB financing in constructing an environmentally conscious and efficient railway network. He projected a substantial reduction in CO2 emissions, fostering significant contributions to climate change mitigation through this corridor.