The Asian Infrastructure Investment Bank (AIIB) has agreed to provide a $335m loan for an electric metro project in Bangalore, a city in the Indian state of Karnataka.
The latest investment in support of the Bangalore Metro Rail Project—Reach 6 (R6) also represents AIIB’s first joint financing partnership with the development’s lead financier, the European Investment Bank (EIB), which has contributed a total of $587m in funding for the project to date.
R6 aims to provide high-capacity north-south connectivity through the centre of Bangalore by expanding the city’s metro system, while also reducing traffic congestion.
It is also set to provide an eco-friendly transportation alternative for the city’s commuters. Read More
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