EIB Funds ₹2,800 Cr for Bengaluru Suburban Railway to Enhance Urban Mobility
The European Investment Bank (EIB Global) has announced a significant loan of €300 million (approximately ₹2,800 crore) for the construction of a new suburban railway network in Bengaluru. This initiative aims to build four dedicated rail corridors covering 149 km, with plans for 58 stations and two depots. EIB Vice-President Nicola Beer highlighted that this project will facilitate a shift from road to rail, effectively tackling issues like congestion, air pollution, and greenhouse gas emissions while enhancing affordable mobility for residents.
Since 2016, EIB has committed approximately €3.25 billion (around ₹30,225 crore) in loans for various transport projects across India, making it the largest beneficiary of EIB transport financing outside Europe. This funding includes a previous loan of €500 million (about ₹4,650 crore) aimed at developing a segment of the Bengaluru Metro.
With Bengaluru’s population expected to rise from 1.4 crore to 2 crore by 2030, the new suburban railway is anticipated to significantly reduce CO2 emissions by 43% once operational. It is projected to handle around 4 lakh trips daily in its first year of full operation (2029), increasing to 14 lakh by 2040, aligned with the city’s growth trajectory. The EIB’s ongoing support also encompasses metro investments in cities like Agra, Bhopal, Kanpur, Lucknow, and Pune.
Did you know that some animals have brains so large that they can weigh several…
Did you know that some movies have made history by winning an extraordinary number of…
Kusunpur village in Kendrapada district of the Odisha is set to become the first smart…
Global clothing retailer Uniqlo has appointed the Indian fast bowler Jasprit Bumrah as its brand…
Indian animation film gained international recognition. This come after the animated short film CHYIMI won…
India has started orocess signing Terms of Reference (ToR) with the Philippines and Maldives to…