JICA injects ₹3,717-cr in Bangalore metro project

Japan International Cooperation Agency has infused ₹3,717 crore funds into the Bangalore Metro Rail Corridor's Phase II (Reach 6), Phase II-A and Phase II-B work. This move will fast-track the construction and implementation of the metro rail project. The civil work has already begun on the Reach 6 corridor that also includes an underground line, the remaining two projects – currently in the tendering stage – awaiting approval from the Central government. The loan covers a total of 80-km Metro network including 22-km Nagawara – Gottigere stretch (Reach 6), 20-km Silk Board – KR Puram stretch (Phase II-A) and 38-km KR Puram – Kempegowda International Airport Terminal stretch (Phase II-B). The project aims to ensure a reliable public transport system, thereby creating balanced regional development and improving the urban environment.

Bengaluru has experienced a significant rise in the number of registered vehicles from 1.6 million in 2001 to 2.6 million in 2005 and 8 million in 2019 respectively. The project is expected to meet rapidly increasing vehicular traffic demand, reduce traffic congestion, road accidents and will also lead to a modal shift from personalized vehicles to public transport systems. The agency has been supporting the development of major metro projects in the country by providing funds and expertise. The cumulative loan amount by JICA for Metro projects in India including Delhi, Bengaluru, Chennai, Kolkata, Mumbai, and Ahmedabad Metro is about ₹87,000 crore.

Other than JICA, the BMRCL has signed an agreement with the Asian Development Bank (ADB) which will give a loan of ₹1,479 crore for Phase II-A and another ₹2,410 crore for Phase II-B. With these funding sources, BMRCL has managed to raise the finances required for the project from international lenders.