The Asian Development Bank (ADB) and the Government of India have signed a USD 350 million loan to build new lines and improve the connectivity of the metro rail system in Chennai. As per reports, Rajat Kumar Mishra, Additional Secretary, Department of Economic Affairs, Ministry of Finance had stated that besides expanding the metro network in Chennai, ADB’s support will facilitate better integration between inclusive urban renewal measures and urban mobility improvements through transit-oriented development. The investment project supports the development of three new metro lines. Both the entities have signed the agreement of the tranche 1 loan for the Chennai Metro Rail Investment Project. The tranche 1 loan is part of the USD 780 million multi-tranche financing facility (MFF) for the project approved by ADB on 8th December 2022, to develop three new metro lines in Chennai.