BMRCL to get Rs 1,700 crore loan for Metro Phase-2

BMRCL to get Rs 1,700 crore loan for Metro Phase-2

The Bangalore Metro Rail Corporation Limited (BMRCL) signed a project agreement with the European Investment Bank (EIB) for 200 million Euros (approximately Rs 1,700 crore) for Phase-2 of the Namma Metro project.

The agreement was signed by BMRCL MD Ajay Seth and Maria Shaw Barragan, the director of Global Partners Department, EIB, on Friday, in the presence of Chief Minister HD Kumaraswamy, Deputy CM and Bengaluru Development Minister G Parameshwara and other senior officers.

The CM thanked EIB for offering loans at a low interest rate with no conditions for the Metro project. “This is a positive development in the interest of developmental projects in the city and we look forward for assistance from the EIB in the future as well.

The Metro project is being developed to control pollution due to increasing number of vehicles in Bengaluru, which has a population of over 11 million.” Read More

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