The Bangalore Metro Rail Corporation Limited (BMRCL) has signed a loan agreement for ₹3,643 crore with the Asian Development Bank (ADB) for the completion of two key routes along the Outer Ring Road and Airport Metro Corridor. It was signed between BMRCL MD Anjum Parvez, Ministry of Housing and Urban Affairs Director Janardan Prasad, and ADB Country Director Takeo Konishi. With this pact, financial arrangements have been made for Phase 2A and Phase 2B of the metro project. The metro corporation had signed another loan agreement with Japan International Cooperation Agency for ₹2,317 crore financing for the same project this year. The central and the state governments will contribute ₹3,973 crore through equity and subordinate debt and the land acquisition cost of ₹2,762 crore will be borne by the state government.
