December 15, 2023
On December 15, 2023, the Government of India and the Asian Development Bank (ADB) joined hands, signing a significant agreement for a 37 billion Japanese Yen ($250 million) loan. This funding will continue to support the construction of the 82-kilometer Delhi-Meerut Regional Rapid Transit System (RRTS) corridor. The loan, amounting to 37 billion Japanese Yen, is part of a broader $1,049 million Multi-tranche Financing Facility (MFF) approved by ADB in 2020 for the RRTS project.
In a historic move, the world reached a climate agreement at the COP28 summit in Dubai, calling for an unprecedented transition away from fossil fuels. The Global Stocktake, a crucial component of the agreement, was approved after intense negotiations that extended beyond the initial schedule. The agreement’s language, although a landmark moment, leaves room for interpretation, sparking debates over its....
