"Indian Government Secures ₹3,044 Crore Loan from KfW Germany for Bangalore Metro Phase 2".

The Government of India has entered into an agreement with German state-owned development bank KfW for a loan of €340 million (₹3,044.54 crore) to support Phase 2 of the Bangalore Metro Rail Project.

With this agreement, 100% financial closure has been achieved for Phase 2 of the project. A separate project agreement was also signed between Bangalore Metro Rail Corporation Limited (BMRCL) and KfW Germany for the loan.

In a statement, BMRCL highlighted that of the approved senior debt of ₹12,141.14 crore, ₹9,096.60 crore had already been secured through funding from JICA, AFD, AIIB, and EIB. “With the signing of this new loan agreement, the external funding for the Bangalore Metro Rail Project Phase 2 is now complete,” the release stated.

HBL