GoI secures Rs 30.45 billion from KfW Germany, achieving financial closure for Bangalore Metro Phase 2

The Government of India (GoI) and KfW Germany have signed a loan agreement of Rs 30.45 billion for phase 2 of the Bangalore Metro Rail Project. With this deal, the metro project marks a 100 per cent financial closure. Out of the total senior debt funding of Rs 121.41 billion, the remaining Rs 90.97 billion was already secured through other funding agencies, including Japan International Cooperation Agency (JICA), Agence Française de Développement (AFD), Asian Infrastructure Investment Bank (AIIB), and European Investment Bank (EIB).. With the financial closure, the project is ready for the construction phase.