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NCRTC and NDB sign USD 500 million for Delhi-Ghaziabad-Meerut Rapid Transit System Project

NCRTC and NDB sign USD 500 million for Delhi-Ghaziabad-Meerut Rapid Transit System Project
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NCRTC and NDB sign USD 500 million for Delhi-Ghaziabad-Meerut Rapid Transit System Project

Highlights

The Ministry of Housing and Urban Affairs, National Capital Region Transport Corporation Limited and the New Development Bank on Thursday signed a loan agreement for lending 500 million dollars for the ‘Delhi-Ghaziabad-Meerut Regional Rapid Transit System Project’.

The Ministry of Housing and Urban Affairs, National Capital Region Transport Corporation Limited and the New Development Bank on Thursday signed a loan agreement for lending 500 million dollars for the 'Delhi-Ghaziabad-Meerut Regional Rapid Transit System Project'.

The Rapid Transit System will provide a fast, reliable, safe and comfortable public transport system in the National Capital Region.

Due to the lack of efficient public transport options, the number of private vehicles in NCR has increased. It can take about 3 to 4 hours to travel between Delhi and Meerut in Uttar Pradesh by road during peak hours. Rapid growth in vehicular traffic has made NCR one of the most polluted regions in the world.

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. It will activate processes which will enable sustainable economic and social development with environmental protection, for future generations.

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