| Work Detail |
Germany’s investment and development bank, KfW is set to sign an agreement to provide 500 million euros (around Rs 4,500 crore) to provide financial assistance for the expansion of the Bengaluru Metro. The funding, which includes loan and grants, will support expansion plans as well as provide technical expertise to the metro project. It would enable construction of new lines for the Bengaluru Metro, also called Namma Metro. KfW, looking at sustainable mobility projects in India, is also financing metro projects in Mumbai and Nagpur among other cities, inncorporating capacity and expertise with respect to environmental and social aspects in the project execution. This squarely fits in with the new Green and Sustainable Development Partnership (GSDP) unveiled by India and Germany in 2022. KfW also provided funding for the expansion of the Mumbai Metro in 2020 through the loan worth 545 million euros. In addition, a financing agreement of 2.2 million euros was signed for technical support, whereby KfW has also provided funds to other metro projects in the country. In 2016, the bank had provided a 500 million euros loan to the Indian government for the construction of a “modern and sustainable metro system in Nagpur, and stated that with the building of two metro lines covering a combined length of 38 km, the KfW promotional funds will be used for flyovers, stations, rail, traction and telecommunication systems as well as rolling stock, |
