India government has inked an MoU with Asian Development Bank (ADB) for a 37 billion Japanese Yen (USD 250 million) loan that will continue financing the construction of the 82-kilometre Delhi-Meerut Regional Rapid Transit System (RRTS) corridor.

Juhi Mukherjee, Joint Secretary, Department of Economic Affairs, Ministry of Finance, for the Government of India, and Hoe Yun Jeong, Deputy Country Director, and Officer-in-Charge of the India Resident Mission, for ADB singed the MoU.

Mukherjee stated that the investment project will enable the RRTS to improve urban mobility, and the project’s economic impacts will also benefit women and the differently abled.

“ADB financing is helping the construction of the corridor which will allow people to travel by a low carbon and efficient railway system and save millions of tons of CO2 emissions and play a significant role in climate change mitigation,” Jeong said.

The 82-km corridor will provide fast, safe, and high-capacity commuter transit services, expanding economic and employment opportunities in the region by cutting travel time from 3-4 hours to about 1 hour.