ADB approves $500 million loan for Silk Board-airport metro

The much-awaited metro line from the Central Silk Board junction to the Kempegowda International Airport (Phase 2A and 2B) got a big boost on Tuesday with the Asian Development Bank (ADB) approving it a $500 million (about Rs 3,685 crore) loan.

Noting that Bengaluru attracts a large number of people due to its capacity to generate job opportunities, the bank noted that the two metro corridors will help augment an efficient and safe transportation system for a population that’s set to cross the 1.6-crore mark in a decade.

“This will enhance the economy, improve the urban environment and make the city more livable. The project supports the urban transformation of Bengaluru city through a multidimensional approach of urban public transport and urban development,” said ADB Senior Transport Specialist for South Asia Kaoru Kasahara.

Though the loan is a major component of the Rs 15,000-crore project, the Bangalore Metro Rail Corporation Limited (BMRCL) is still awaiting the union government’s clearance for the two projects that are estimated to cost Rs 14,844 crore.

Replying to a question by MP KC Ramamurthy in the Rajya Sabha in September, the Ministry of Housing and Urban Affairs had said it cannot provide a time frame for clearing the cost-intensive project.

Reliable sources, however, say that the inter-ministerial consultation cited by MoHUA has now been completed. “The proposal will be placed before the Public Investment Board.

The final approval may be expected in the next few months. The works can start immediately thereafter as advance action for procurement has been taken,” the source explained.

The 56-km line will connect the south end of the city, including its IT corridors, to the airport located in the north. It will have 30 stations and provide multimodal facilities like bus bays, taxi stand, motorcycle pools and pedestrian walkways and bridges.

The ADB statement said that the needs of vulnerable groups like the elderly, women, children and the differently-abled would be integrated in the design of the facilities.

Additional funds

The ADB has approved another $300 million (about Rs 2,211 crore) for strengthening primary healthcare in urban areas across the country and an additional $2 million (Rs 14.73 crore) technical assistance to help Karnataka formulate urban development plans and their implementing frameworks, focusing on transit-oriented development and multimodal integration.