The European Investment Bank has announced it will provide a loan of 2,800 crore rupees for the Bengaluru suburban railway. The bank has also launched a technical assistance hub for urban mobility solutions. The Vice President of the European Investment Bank (EIB), Nicola Beer, and the Director of Finance of the Karnataka Rail Infrastructure Development, Awadhesh Maheta, announced this in Gandhinagar today on the sidelines of the Urban Mobility India conference.

Ms. Beer said the Bengaluru Suburban Railway Network will help cut pollution and carbon emissions and improve the safety of women passengers. She mentioned that the disbursement of the money will occur over the next five years. The network will stretch over 149 kilometres and include 58 stations. She also said India is the largest beneficiary of EIB transport financing outside Europe. Ms. Beer said the project will not only provide safe and accessible transport for women but also boost their participation in the workforce.