- For building new lines of the Chennai Metro Rail, the ADB approved a loan of INR 780 million.
- The ADB will also provide an additional Technical Assistance (TA) grant of USD 1 million for the planning and management of Chennai Metro Rail to improve its network connectivity.
- A loan of USD 300 million was approved by the ADB to upgrade over 300 km of state highways and major district roads in Assam from single-lane to two-lanes along with introducing climate-resilient structures.
- Apart from this, the fund will also be used in:
- building pedestrian and public transport facilities
- elevate highways in flood-prone areas
- ADB is a regional development bank with 68 member states and was established in 1966 with its headquarters in Mandaluyong (Metro Manila), Philippines. The current President of it is Masatsugu Asakawa.
Question:
Q.1 Which of the following recently approved a loan of USD 780 million for building new lines of the Chennai Metro Rail?a. World Bank
b. IMF
c. ADB
d. NDB
