Namma Metro Phase 2 gets ?3,044 cr German loan

NT Correspondent

Bengaluru

To help fund Phase 2 of Namma Metro, the Union Government and German bank KfW inked an agreement worth ?3,044.54 crore for the Bangalore Metro Rail Corporation Limited (BMRCL) here on Friday. With the signing of this loan, BMRCL achieves 100 percent financial closure from governments and banking institutions for Phase 2. Spanning 133 kilometers, Phase 2 includes extensions of both Green and Purple lines and the construction of three new lines Yellow, Pink, and Blue.

These lines will connect key transport hubs and central areas of the city Additionally, a separate project agreement was signed for the loan between BMRCL and KfW Germany. Officials stated that out of the senior debt of ?12,141.14 crore, ?9,096.60 crore has been tied up by the Union Government through the Japan International Cooperation Agency (JICA), the French Agency for Development (AFD), the Asian Infrastructure Investment Bank (AIIB), and the European Investment Bank (EIB). This loan agreement fully secures funding for Phase 2.