EIB provides €300-million loan for Bengaluru suburban rail

The European Investment Bank (EIB) has announced a €300 million loan to support the development of a new suburban railway network in Bengaluru.

This project aims to cover four dedicated rail corridors, spanning a total of 149 km and including 58 stations and two depots.

Impact: Once fully operational, the network is expected to reduce CO2 emissions by 43% and handle an estimated 400,000 trips per day in its first year, increasing to 1.4 million trips per day by 2040.

Integration: The new railway system will integrate with Bengaluru's existing metro and rail systems, creating multimodal transport hubs for seamless connectivity.

About the European Investment Bank 

The European Investment Bank (EIB) is the lending arm of the European Union and the world's largest multilateral lender.

Key Highlights: 

Established: Founded in 1958. 

Location: Headquartered in Luxembourg. 

Ownership: Jointly owned by EU member states.

President: Nadia Calviño. 

Vice President: Ambroise Fayolle. 

Mission: To promote the EU's objectives by making long-term finance available for sound investments that contribute to EU policy goals.

Focus Areas: The EIB focuses on climate action, innovation, and skills, as well as supporting small and medium-sized enterprises (SMEs).

Global Reach: While most of its projects are within the EU, the EIB also supports projects outside the EU, particularly in developing countries