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The Railways have taken a loan of US $ 313.6 millions from the Asian Development Bank for strengthening Golden Quadrilateral and its diagonals. In addition, US $ 463 millions from International Bank for Reconstruction & Development (IBRD) and a credit of SDR 62.5 millions from International Development Association (IDA) have been obtained for Mumbai Urban Transport Project (MUTP), which has both road and rail components. It is partly funded by the World Bank. The IBRD loan and IDA credit earmarked for the rail component are US$ 305 millions and about US$ 60 millions respectively.
In addition, project of modernization of signalling between Ghaziabad and Kanpur has been taken up, which is partly funded by a loan of DM 185 millions, equivalent to Euro 95 millions, from Kreditanstalt fur Wiederafbau (KfW), Germany.
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