Latest News | Rs 3,045 Crore Loan Agreement Signed for Bangalore Metro Phase-2

Bengaluru, Dec 13 (PTI) An agreement has signed between the Government of India and KfW Germany on Friday for a Rs 3,044.54 crore loan for the Bangalore Metro Rail Project Phase-2, officials said.

With the signing of this loan agreement, 100 per cent financial closure has been achieved for the Bangalore Metro Rail Project Phase-2, they added.

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Additionally, a separate project agreement was signed between the Bangalore Metro Rail Corporation Limited (BMRCL) and KfW Germany, officials said.

In a statement, BMRCL officials mentioned that, against the approved senior debt of Rs 12,141.14 crore, Rs 9,096.60 crore had already been tied up earlier by the Government of India through other funding agencies.

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"With the signing of the loan agreement, the external loan has been fully tied up for the Bangalore Metro Rail Project Phase-2," the statement said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)