GoI Signed Rs.3044 Crore Loan Agreement with KFW Germany for Bengaluru Metro Rail Ph- 2

Current Context: On December 13, 2024, the Government of India (GoI) signed a significant loan agreement with KfW Germany, valued at Rs. 3,044.54 crore.

• This funding is specifically allocated for Phase 2 of the Bangalore Metro Rail Project.
• The agreement was formalized in the presence of officials from both India and Germany, marking an important milestone for the project.
• This loan agreement ensures that the Bangalore Metro Rail Phase 2 has achieved 100% financial closure.
• The total approved senior debt for this phase of the metro project stands at Rs. 12,141.14 crore.
• Prior to this agreement, Rs. 9,096.60 crore had already been secured through other funding agencies.
• This financial closure signifies a robust backing for the metro expansion, aiming to enhance urban transportation and connectivity in Bengaluru.

Question:

1 Which organization has the Government of India signed a loan agreement with for Phase 2 of the Bangalore Metro Rail Project?

• A) Asian Development Bank (ADB)
• B) KfW Germany
• C) World Bank
• D) New Development Bank (NDB)

Answer: B) The Government of India signed a loan agreement with KfW Germany on December 13, 2024, valued at Rs. 3,044.54 crore, to fund Phase 2 of the Bangalore Metro Rail Project.