EIB's Bengaluru Suburban Railway Boost

The European Investment Bank has committed a 300 million euro loan to enhance Bengaluru's suburban railway, promoting eco-friendly transport. This initiative addresses congestion and pollution while increasing urban mobility, aligning with India's booming population growth.

The European Investment Bank (EIB Global) announced on Friday a significant financial commitment to Bengaluru's urban transportation system. EIB Global will provide a 300 million euro (approximately Rs 2,800 crore) loan to develop a new suburban railway network in the city.

The extensive rail network will span 149 kilometers, incorporating four dedicated corridors, 58 stations, and two depots, according to EIB Vice-President Nicola Beer. The initiative aims to reduce reliance on road transport, alleviating congestion, and cutting down pollution, while making mobility more accessible and affordable.

Since 2016, EIB has allocated 3.25 billion euros (around Rs 30,225 crore) to India's transport sector. Bengaluru, a rapidly growing metropolis anticipated to reach a population of 2 crore by 2030, has benefited from EIB's previous funding, including the Bengaluru Metro's R6 line project.

(With inputs from agencies.)