K-RIDE seeks €800 million soft loan for Bengaluru suburban rail project
Bengaluru Suburban Railway Project’s (BSRP) financial requirements of Rs 15,767 crore are being met rapidly.
The Union Budget for 2023-24 on Wednesday allocated Rs 1,350 crore (Rs 450 crore in budget support and Rs 900 crore under internal and extra-budgetary resources).
Separately, Rail Infrastructure Development Company (Karnataka) Limited has sought an €800-million (Rs 7,140 crore) soft loan from the European Investment Bank (EIB) and the German investment and development bank KfW for the project, a top official said.
The loan will cover 60% of the project cost (excluding rolling stock) and likely carry interest in the low single digits. The state and central governments will each contribute 20%.
