EIB Global to provide 300 million euros loan for Bengaluru suburban railway

The European Investment Bank (EIB Global) will provide a 300 million euro (about Rs 2,800 crore) loan for Bengaluru suburban railway, a top official said on Friday. "This loan of 300 million euro is for building a new suburban railway network covering four dedicated rail corridors in Bengaluru. The network will stretch over a total of 149 km and include 58 stations and two depots" EIB Vice-President Nicola Beer said here. The project promotes a modal shift from road to rail and addresses congestion, air and noise pollution, road safety and greenhouse gas emissions while providing an affordable mobility solution to improve access to jobs and study opportunities, she said. Since 2016, EIB has provided loans worth 3.25 billion euro (about Rs 30,225 crore) for the transport sector across India, Beer said, adding that the country is the largest beneficiary of EIB transport financing outside Europe. Home to around 1.4 crore people and expected to reach 2 crore by 2030, Bengaluru is India