EIB Boosts Bengaluru Transit with €300 Million for Suburban Rail

The European Investment Bank (EIB) announced a €300 million loan to develop a suburban railway in Bengaluru. This project, part of EU-India collaboration, is set to enhance the city's public transport and significantly reduce carbon emissions, benefiting millions of commuters by 2040.

The European Investment Bank (EIB) has committed €300 million to establish a new suburban railway network in Bengaluru, marking a significant development in the city's public transportation infrastructure. The loan agreement was signed in Gandhinagar with Awadhesh Mehta, the Director of Finance at Karnataka Rail Infrastructure Development Company. This ambitious project will span 149 kilometers and feature 58 stations and two depots.

Bengaluru, home to approximately 14 million residents and projected to reach 20 million by 2030, is set to benefit greatly from this investment. The EIB has previously contributed €500 million to the city's metro services, increasing connectivity and reducing travel times. This latest funding underlines the EIB's commitment to India's transport sector, where a staggering €3.25 billion has been injected since 2016.

The expected outcomes of the suburban railway network include a drastic reduction in carbon dioxide emissions and an uptick in daily ridership, anticipated to hit 400,000 trips daily in 2029, surging to 1.4 million by 2040. EIB Vice-President Nicola Beer, speaking in Gandhinagar, highlighted the project's focus on women's access, safety, and construction work participation. EU Ambassador Herve Delphin further emphasized the environmental and social benefits, framing the initiative as a testament to the strong cooperation between India and the European Union.

(With inputs from agencies.)