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Signature(s)

Amount
€ 300,000,000
Countries
Sector(s)
India : € 300,000,000
Transport : € 300,000,000
Signature date(s)
14/06/2024 : € 300,000,000
Link to source

Summary sheet

Release date
23 October 2023
Status
Reference
Signed | 14/06/2024
20220637
Project name
Promoter - financial intermediary
BANGALORE SUBURBAN RAILWAY PROJECT
RAIL INFRASTRUCTURE DEVELOPMENT COMPANY (KARNATAKA) LTD
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 300 million
EUR 1579 million
Location
Sector(s)
Description
Objectives

The project will co-finance the construction of a new suburban railway network with 58 stations covering 4 dedicated rail corridors in Bangalore, spanning approximately for 149 km in total length.

The aim is to contribute to the sustainable development of the Bangalore metropolitan region through low carbon and climate resilient urban infrastructure and improved access. The new suburban railway network will also improve the business environment for private sector development and facilitate access to amenities and jobs. The project is in line with the EU Country Strategy Paper for India which highlights the infrastructure gap and need to address rising greenhouse gas emissions. It supports two main objectives of EIB External Mandate: (i) climate change mitigation, by promoting modal shift from road to rail while reducing greenhouse gas emissions, and (ii) social and economic infrastructure development, by contributing to urban development.

Additionality and Impact

The project concerns the construction of a new suburban railway network in the greater Bangalore Metropolitan Area, comprising 4 interconnected rail corridors (of 149km length) incl. 58 stations and 2 depots. The project will upgrade public transport supply, connecting the city of Bangalore with suburbs and satellite townships.

By supporting the shift of traffic to a more sustainable transport mode, the project will reduce negative externalities of road traffic (noise and air pollution, greenhouse gas emissions, road accidents and congestion), improving travel times and costs. By providing safe and affordable

transport to more vulnerable groups, e.g. people with reduced mobility and women, further benefits are unlocked, for example more egalitarian access to jobs and study opportunities. The project contributes to a wide range of Sustainable Development Goals (SDGs), most notably climate change mitigation (viz. SDG 13) and urban infrastructure improvement (viz. SDGs 9 & 11). The project is aligned to the EU's Global Gateway and carried out under the Team Europe Flag. The project is consistent with the EU Country Strategy Paper for India (2018), the EU-India Strategic Partnership: A Roadmap to 2025, India's National Urban Transport Policy (2014) and Bangalore's own comprehensive Mobility Plan (2020). The project benefits from EIB's advantageous long-term funding, as well as the raising of social and environmental standards and technical advice.

Environmental aspects
Procurement

In India, metro projects do not fall within the scope of the relevant Environmental Impact Assessment (EIA) legislation unless the built up area is beyond a defined threshold, in which case the project is subject to screening by the State level Competent Authority. The status of screening, if any, is to be determined during appraisal. The project has in any case been subject to an environmental and social impact assessment. The further steps in assessing and managing environmental risks are to be reviewed during appraisal. Compliance with relevant EIB Social Standards is to be reviewed.

The promoter has to ensure that implementation of the project will be done in accordance with the EIB's Guide to Procurement.

Milestone
Under appraisal
Approved
Signed
8 May 2024
14 June 2024
Link to source
Other links

Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

Documents

Environmental and Social Impact Assessment (ESIA) - BANGALORE SUBURBAN RAILWAY PROJECT - Preparation of Environmental Impact Assessment Report and Social Impact Assessment Report for Bengaluru Suburban Railway Project
Publication Date
7 Apr 2024
Document language
Main Topic
Lending
Document Number
204293658
Document Focus
Environmental Information
Project Number
20220637
Sector(s)
Countries
Publicly available
Download now
Environmental and Social Impact Assessment (ESIA) - BANGALORE SUBURBAN RAILWAY PROJECT - Social Impact Assessment & Resettlement Policy Framework for Bengaluru Suburban Railway Project
Publication Date
8 Apr 2024
Document language
Main Topic
Lending
Document Number
204281247
Document Focus
Environmental Information
Project Number
20220637
Sector(s)
Countries
Publicly available
Download now
Environmental and Social Data Sheet (ESDS) - BANGALORE SUBURBAN RAILWAY PROJECT
Publication Date
22 May 2024
Document language
Main Topic
Lending
Document Number
167832851
Document Focus
Environmental Information
Project Number
20220637
Sector(s)
Countries
Publicly available
Download now

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Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
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The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

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