The Government of India and the Asian Development Bank (ADB) on Thursday signed a $500 million loan to expand the metro rail network in Bengaluru with the construction of two new metro lines totalling 56 km in length.
A press statement from ADB said the signatories to the agreement for Bengaluru Metro Rail Project were Rajat Kumar Mishra, Additional Secretary, Department of Economic Affairs in the Ministry of Finance who signed for the Government of India, and Takeo Konishi, Country Director of ADB’s India Resident Mission who signed for ADB. “The new metro lines will further strengthen safe, affordable and green mobility in Bengaluru, having a positive impact on enhancing quality of life, sustainable growth in urban habitat and livelihood opportunities." said Mishra
“The project supports urban transformation of Bengaluru City into a more liveable 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 liveability 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 neighbourhoods. TOD also aims to raise land values along these corridors, generating capital revenues for the state government to meet the city’s long-term investment needs. MMI will strive to provide people-oriented, environment-friendly solutions and a safe, total mobility solution for all Bangalore residents through the seamless integration of different modes of public transport, the statement said.
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 in the metro facilities.
ADB’s additional $2 million technical assistance grant will help the state government formulate urban development plans and their implementing frameworks, focusing on TOD and multimodal integration. The grant will also be used to strengthen the capacity of the Bangalore Metro Rail Corporation Limited and other state agencies to implement these initiatives. ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members—49 from the region, the statement said.