Current Affairs - Finance - Discussion

The European Investment Bank (EIB) has committed to providing a ₹2,800 crore loan to support the development of Bengaluru's suburban railway. The announcement was made by EIB Vice President Nicola Beer and Karnataka Rail Director Awadhesh Maheta at the Urban Mobility India conference in Gandhinagar. The loan will be disbursed over five years, contributing to India's urban mobility and workforce inclusivity goals. Notably, India is the largest EIB transport financing recipient outside Europe, reflecting the country's focus on upgrading its transportation infrastructure. This investment aims to enhance Bengaluru's connectivity, reduce congestion, and promote sustainable urban growth.