CURRENT AFFAIRS

Detailed explanation-1: -ADB Approves $500 Million Loan to Expand Metro Rail Network in Bengaluru. The Asian Development Bank has approved a $500 million loan to construct new metro rail lines in Bengaluru, India.

Detailed explanation-2: -ADB and the India government last year signed a deal for a $500 million loan to expand Bengaluru’s metro rail network by constructing two new lines of 56 km length.

Detailed explanation-3: -The Asian Development Bank will provide USD 500 million loans to expand the metro rail network in Bengaluru with the construction of two new metro lines totaling 56 kilometers.

Detailed explanation-4: -The tranche 1 loan for the Chennai Metro Rail Investment Project is part of the $780 million multi-tranche financing facility for the project approved by ADB in December last year to develop three new metro lines in Chennai.