ADB to provide $500 million loan for Bengaluru metro rail network expansion
25 August 2021
Government of India and the Asian Development Bank (ADB) on Monday signed a $500 million loan to expand the metro rail network in Bengaluru with construction of two new metro lines totaling 56 km in length.
“The new metro lines will further strengthen safe, affordable and green mobility in Bangaluru, having positive impact on enhancing quality of life, sustainable growth in urban habitat and livelihood opportunities." said Rajat Kumar Mishra, additional secretary in the Department of Economic Affairs.
“The project supports urban transformation of Bengaluru city into a more livable and sustainable city through support to urban public transport and urban development with concepts of transit-oriented development (TOD) and multi-modal integration (MMI),” said Konishi. “The project will bring various benefits including road de-congestion, better urban livability and environmental improvement.”
TOD-based urban development model will target realigning growth and increase the city's economic productivity by creating higher density, compact, mixed use, mixed income, safe, and resource-efficient and inclusive neighborhoods. TOD also aims at raising land values along these corridors, generating capital revenues for the state government to meet the city’s long-term investment needs. MMI will aim to provide people-oriented, environment-friendly solutions and a safe, total mobility solution for all Bangalore residents through seamless integration of different modes of public transport.
The project will construct two new metro lines, mostly elevated, along Outer Ring Road and National Highway 44 between Central Silk Board and Kempegowda International Airport with 30 stations. This will help decongest traffic in the city area and provide seamless connectivity to the airport. The needs of vulnerable groups, such as the elderly, women, children, and differently abled persons, will be reflected on the metro facilities.