Deadline pushed for Metro loans

Mumbai: The cabinet approved a proposal to extend the deadline till Dec 31, 2026, for taking loans from Asian Development Bank and New Development Bank for Metro-2A (Dahisar East-DN Nagar), 2B (DN Nagar-Mandala), and 7 (Andheri East-Dahisar East).
Loans of $1,075.7 million had been approved for the projects, of which $549.25 million was taken. Lines 2A and 7 have been commissioned, while work on Metro-2B is in progress. In all, 96 trains were to be acquired with the help of the loans, of which 60 trains have been received. tnn

Try Our AI Features

Explore what Daily8 AI can do for you:

Learn with AIFact CheckingText to SpeechAI Summary

Related Articles

Time of India

15 minutes ago

• Time of India

Maha Mumbai Metro achieves record daily ridership of 2.94 lakh

Mumbai: The Maha Mumbai Metro achieved its highest-ever daily ridership on June 18, 2025, with 2,94,681 commuters using the city's Metro Lines 2A and 7. This development marked a new milestone in Mumbai's urban transit journey. Tired of too many ads? go ad free now Officials from the Maha Mumbai Metro Operation Corporation Ltd (MMMOCL) said, "The record numbers are attributed to the growing trust of Mumbaikars, seamless operations, and the widespread adoption of its digital ticketing system." The official further stated that over 65% of the tickets on that day were booked via the WhatsApp-based ticketing platform, reflecting the success of its technology-driven commuter services. "This achievement is a reflection of Mumbaikars' continued confidence in the metro network and the relentless commitment of our staff. We are grateful for the support and enthusiasm shown by our commuters," said a senior MMMOCL official. This surpasses the previous ridership high of over 2.92 lakh recorded on October 8, 2024, the day Mumbai received its new metro connection between Aarey Colony and Bandra Kurla Complex (BKC). Earlier, on June 6, 2024, the network recorded a ridership of 2,60,471 in a single day. Metro Lines 2A and 7, operated by MMMOCL, have become vital cogs in Mumbai's suburban transport ecosystem. The 18.6-km-long Metro Line 2A connects Dahisar to D N Nagar via 17 stations, linking with Metro Lines 1, 2B, and 6. Meanwhile, the 16.5-km-long Metro Line 7 runs from Dahisar East to Andheri East, significantly decongesting the Western Express Highway and integrating with key metro corridors across the city.

Business Standard

8 hours ago

• Business Standard

ADB, World Bank clear $1.5 bn loans to Bangladesh for reforms, climate push

The Asian Development Bank and the World Bank have approved loans worth $1.5 billion to help Bangladesh reform its banking sector, fight climate change among other projects, according to a media report on Friday. The Asian Development Bank (ADB) approved a $900 million loan, of which $500 million will support efforts to stabilise and reform the country's banking sector, while the remaining $400 million will promote climate-resilient and inclusive development initiatives, The Daily Star newspaper reported. The $500 million policy-based loan aims to strengthen governance, asset quality and stability within Bangladesh's banking system, the ADB said in a statement on Thursday. Separately, the ADB also approved a $400 million loan for the second phase of the Climate-Resilient Inclusive Development Programme (CRIDP) aimed at supporting Bangladesh's efforts to adapt to climate change, cut emissions and foster inclusive economic growth. Also on Thursday, the World Bank (WB) approved $640 million for two projects aimed at enhancing gas supply and improving air quality in Bangladesh. With the ADB and WB approvals, Bangladesh is set to receive more than $1.5 billion -- a development that will ease the continued strain on its foreign currency reserves.

The Hindu

9 hours ago

• The Hindu

ADB, World Bank approve loans worth $1.5 billion to Bangladesh

The Asian Development Bank (ADB) and the World Bank (WB) have approved loans worth $1.5 billion to help Bangladesh reform its banking sector, fight climate change among other projects, according to a media report on Friday (June 20, 2025.) The Asian Development Bank (ADB) approved a $900 million loan, of which $500 million will support efforts to stabilise and reform the country's banking sector, while the remaining $400 million will promote climate-resilient and inclusive development initiatives, The Daily Star newspaper reported. 'The $500 million policy-based loan aims to strengthen governance, asset quality and stability within Bangladesh's banking system,' the ADB said in a statement on Thursday (June 19, 2025). Separately, the ADB also approved a $400 million loan for the second phase of the Climate-Resilient Inclusive Development Programme (CRIDP) aimed at supporting Bangladesh's efforts to adapt to climate change, cut emissions and foster inclusive economic growth. Bangladesh wanted good ties with India, but 'something always went wrong': Yunus Also on Thursday (June 19, 2025), the World Bank (WB) approved $640 million for two projects aimed at enhancing gas supply and improving air quality in Bangladesh. With the ADB and WB approvals, Bangladesh is set to receive more than $1.5 billion — a development that will ease the continued strain on its foreign currency reserves.