The Asian Development Bank (ADB) has sanctioned a THB9.9bn ($311m) fund to support the construction and subsequent operation of the Pink and Yellow lines for Bangkok’s mass rapid transit (MRT) system.

ADB signed the financing agreement with BTS Group Holdings Public Company, the operator of the metro rail system in Bangkok, Thailand.

The total financial package will be divided equally between the Northern Bangkok Monorail Company (NBM) and the Eastern Bangkok Monorail Company (EBM).

NBM and EBM are special purpose vehicles established to operate the Pink and Yellow MRT lines.

The two under-construction lines will bolster the existing metro network in the capital region and support in alleviating the heavy traffic congestion in the city.

Additionally, the introduction of the lines will reduce air pollution and greenhouse gas emissions generated from road traffic.

The 34.5km-long Pink Line will run between the Min Buri district in Bangkok and Khae Rai in Nonthaburi province.

The Yellow Line is about 30km long and will operate between Lat Phrao in Bangkok and Samrong in Samut Prakan province.

ADB Private Sector Operations Department deputy director general Christopher Thieme said: “Bangkok’s continued status as one of Southeast Asia’s global business hubs depends on relieving traffic congestion and increasing sustainable public transport services.

“ADB’s assistance will catalyse commercial financing for Thailand’s MRT sector and help provide a wider choice of affordable and efficient public transport for Bangkok’s rapidly growing population.”

Last month, ADB awarded $750m to Indian Railway Finance (IRFC) to fund the railways track electrification project.