EIB Approves ₹2,700 Crore Loan for Bengaluru Suburban Railway Project.

The European Investment Bank (EIB) has approved a €300 million (approximately ₹2,731.02 crore) loan for the development of the Bengaluru suburban railway network. This funding will facilitate the construction of a new suburban railway system comprising four dedicated rail corridors, covering a total distance of 149 kilometers (km) and featuring 58 stations along with two depots, according to an EIB statement.

The EIB has previously supported Bengaluru’s transportation initiatives, having provided a €500 million loan for the construction of the 23 km Bengaluru Metro R6 line and the acquisition of around 96 metro cars.

Since 2016, the EIB has committed a total of €3.25 billion to support transport projects in various Indian cities, including Agra, Bengaluru, Bhopal, Kanpur, Lucknow, and Pune, making India the largest recipient of EIB transport financing outside Europe. The bank noted that once the suburban railway project is fully operational, it is expected to reduce CO2 emissions from the Bengaluru transport system by 43%.

EIB Vice-President Nicola Beer commented on the initiative, stating, “The two projects we are financing in Bengaluru aim to create India’s most integrated rail network, providing seamless connectivity with all other modes of public transport in the city.”

ET