The Asian Development Bank(ADB) will provide USD 500 million loans to Government of India to expand the metro rail network in Bengaluru, Karnataka with the construction of two new metro lines totaling 56 kilometers Outer Ring Road- Kempegowda International Airport corridor with 30 stations.
Highlights-
- Additional $2 million technical assistance is being provided by the ADB to help state government formulate Urban Development Projects
- The grant will be utilised by Bangalore Metro Rail Corporation Limited(BMRCL)
- The Silk Metro Board-KR(new metro lines) Puram KIA will provide safe, green mobility.
- The construction of two new metro line in the region of National Highway 44 between Central Silk Board and Kempegowda International Airport with 30 stations
Signatories-
It was signed by Rajat Kumar Mishra, Additional Secretary, Department of Economic Affairs and Takeo Konishi, Country Director of ADB’s Indian Resident Mission.
About the Project
i.It will support the urban transport and urban development projects in Bengaluru with the concept of transit-oriented development (TOD) and multi-modal integration(MMI) with the aid and assistance of the ADB.
ii.The project will help in decongesting the traffic and provide smooth connectivity to the airport and TOD will help in increasing the capital revenues and quality of living in the city.
iii.It will cater to the needs of vulnerable sections such as children, women, differently-abled and elderly people.
About Asian Development Bank
Establishment: 1966
Headquarters: Mandaluyong, Manila, Philippines
Member: 68 countries (Including India)
President of ADB: Masatsugu Asakawa
About Bangalore Metro Rail Corporation Limited(BMRCL)
Managing Director: Anjum Parwez( IAS Officer, 1994 batch)
