GoI & NDB sign MoU for USD 500 Million for Public Transport System in NCR_00.1
Current Affairs   »   GoI & NDB sign MoU for...

GoI & NDB sign MoU for USD 500 Million for Public Transport System in NCR

GoI & NDB sign MoU for USD 500 Million for Public Transport System in NCR_50.1

The Government of India and the New Development Bank(NDB) have signed a loan agreement for lending USD 500 million for the ‘Delhi-Ghaziabad-Meerut Regional Rapid Transit System Project’. This Regional Rapid Transit System provide fast, reliable, safe and comfortable public transport system in the National Capital Region (NCR).

WARRIOR 4.0 | Banking Awareness Batch for SBI, RRB, RBI and IBPS Exams | Bilingual | Live Class

About the Transit System Project:

  • The fast transit system will support in achieving the goal of sustainable urban development in the NCR region including the National Capital Territory of Delhi.
  • The environment friendly and very low emission RRTS will carry many times more people at high speed (average speed 100 kmph) while occupying just 3 m space on land thus reducing congestion on the roads.
  • Seamless high-speed connectivity will result in balanced economic development across the Region leading to economic benefits to all strata of society and many nodes of development rather than all economic activity happening at one place.

About the funding:

  • NDB funding will be provided to finance rolling stock for modern design, energy-efficient operations and interoperability across corridors.
  • NDB funds will also be utilized for procuring signalling, telecommunication and train control system with advanced features such as automatic train operation, automatic train protection, automatic train supervision and integration with platform screen doors.
  • The Project can serve as a demonstration for developing high capacity rapid urban transit corridors in other urban areas of India.”
  • The total project cost is estimated at USD 3,749 million, which will be financed by the NDB (USD 500 million), Asian Infrastructure Investment Bank (USD 500 million), Asian Development Bank (USD 1,049 million), Japan Fund for Poverty Reduction (USD 3 million), and Government and Other sources (USD 1,707 million).
  • The USD 500 million loans from the NDB has a tenor of 25 years withan8-year grace period.

About the National Capital Region (NCR):

  • The NCR is among the world’s largest urban agglomerations and a major economic centre of India. Due to the lack of efficient public transport options, the number of private vehicles in NCR has increased.
  • The daily passenger traffic along the Delhi-Ghaziabad-Meerut corridor in NCR is estimated at 0.69 million, of which 63% utilize private vehicles for commuting.
  • Rapid growth in vehicular traffic has made NCR one of the most polluted regions in the world.
  • By 2030, NCR is projected to become the most populous urban agglomeration in the world, which will increase pressure on basic infrastructures such as housing, water supply, electricity and transport.

Important takeaways for all competitive exams:

  • New Development Bank Headquarters location: Shanghai, China.
  • President of the New Development Bank: Marcos Troyjo.

Find More National News Here

×

Download success!

Thanks for downloading the guide. For similar guides, free study material, quizzes, videos and job alerts you can download the Adda247 app from play store.

Thank You, Your details have been submitted we will get back to you.
[tbare-plugin-demo]

Leave a comment

Your email address will not be published. Required fields are marked *

Join India's largest learning destination

What You Will get ?

  • Job Alerts
  • Daily Quizzes
  • Subject-Wise Quizzes
  • Current Affairs
  • Previous year question papers
  • Doubt Solving session

Login

OR

Forgot Password?

Join India's largest learning destination

What You Will get ?

  • Job Alerts
  • Daily Quizzes
  • Subject-Wise Quizzes
  • Current Affairs
  • Previous year question papers
  • Doubt Solving session

Sign Up

OR
Join India's largest learning destination

What You Will get ?

  • Job Alerts
  • Daily Quizzes
  • Subject-Wise Quizzes
  • Current Affairs
  • Previous year question papers
  • Doubt Solving session

Forgot Password

Enter the email address associated with your account, and we'll email you an OTP to verify it's you.


Join India's largest learning destination

What You Will get ?

  • Job Alerts
  • Daily Quizzes
  • Subject-Wise Quizzes
  • Current Affairs
  • Previous year question papers
  • Doubt Solving session

Enter OTP

Please enter the OTP sent to
/6


Did not recive OTP?

Resend in 60s

Join India's largest learning destination

What You Will get ?

  • Job Alerts
  • Daily Quizzes
  • Subject-Wise Quizzes
  • Current Affairs
  • Previous year question papers
  • Doubt Solving session

Change Password



Join India's largest learning destination

What You Will get ?

  • Job Alerts
  • Daily Quizzes
  • Subject-Wise Quizzes
  • Current Affairs
  • Previous year question papers
  • Doubt Solving session

Almost there

Please enter your phone no. to proceed
+91

Join India's largest learning destination

What You Will get ?

  • Job Alerts
  • Daily Quizzes
  • Subject-Wise Quizzes
  • Current Affairs
  • Previous year question papers
  • Doubt Solving session

Enter OTP

Please enter the OTP sent to Edit Number


Did not recive OTP?

Resend 60

By skipping this step you will not recieve any free content avalaible on adda247, also you will miss onto notification and job alerts

Are you sure you want to skip this step?

By skipping this step you will not recieve any free content avalaible on adda247, also you will miss onto notification and job alerts

Are you sure you want to skip this step?