ADB, India ink USD 350-million loan to expand metro rail network in Chennai

The Asian Development Bank (ADB) and the government of India have inked a USD 350-million loan to build new lines and improve the connectivity of the metro rail system in Chennai with the city’s existing public transport system. The tranche 1 loan is part of the USD 780 million multi-tranche financing facility (MFF) for the project approved by ADB on 8 December 2022, to develop three new metro lines in Chennai. The project would help expand connectivity of Chennai’s central areas to major destinations in the south and west of the city and integrate the metro system with existing bus and feeder services to benefit thousands of daily commuters, said Rajat Kumar Mishra, Additional Secretary, Department of Economic Affairs, Ministry of Finance.