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EIB lends $353 million for metro rail project in southern India

Published: October 5, 2017

STORY: European Investment Bank (EIB) on Thursday (October 05) signed a finance contract for lending of €300 million ($353 million) for the second phase of metro rail project of southern Bengaluru city.

European Investment Bank Vice President Andrew McDowell said it was the largest ever loan signing project in India and the project would go a long way in providing ease of transportation to people and cut pollution.

The second phase is being jointly financed by EIB and Asian Infrastructure Investment Bank.

The project envisages extension of east-west and north-south lines for Bangalore Metro Rail which includes a total length of 72.095 km (13.79 km underground) and 61 stations with 12 underground stations.

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