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EIB Global Sanctions 300 Million Euro Loan for Bengaluru Suburban Railway Project.

Banking & Finance | Dated: 07 Nov 2024

The European Investment Bank (EIB Global) has sanctioned a loan of 300 million euros (approximately Rs 2,800 crore) for the Bengaluru Suburban Railway Project (BSRP).

🎯 Key Highlights:

  • - This initiative is designed to establish a new suburban railway network in the city of Bengaluru, Karnataka.
  • - The Bengaluru Suburban Railway Project (BSRP), as highlighted by EIB Vice-President Nicola Beer, aims to bring about a significant shift from road to rail transport.
  • - Bengaluru, India’s third-largest city, has a current population of around 14 million, which is expected to reach 20 million by 2030. This rapid urban growth highlights the urgent need for an efficient public transportation system to meet the rising mobility demands.

💡 Other Important Facts:

  • (i) The suburban railway will cover a total distance of 149 kilometers.
  • (ii) It will include four dedicated rail corridors to provide efficient connectivity across various city areas.
  • (iii) The project will also involve the construction of 58 stations and two depots for smooth operation and maintenance of railway services.

📚 Test Your Knowledge:

Which organization recently sanctioned a 300 Million Euro loan for the Bengaluru Suburban Railway Project?

Correct Answer: EIB Global

🚀 Quick Recap:

About European Investment Bank (EIB Global)

  • President : Nadia Calvino
  • Headquarters : Luxembourg