India: Bangalore Metro Rail Project - Line R6 (AIIB-000038)

Countries
  • India
Where the impacts of the investment may be experienced.
Financial Institutions
  • Asian Infrastructure Investment Bank (AIIB)
  • European Investment Bank (EIB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
A
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Dec 8, 2017
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Republic of India
The holder of the loan, grant, or other investment.
Sectors
  • Transport
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 335.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 335.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 1,785.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ AIIB website

Updated in EWS May 19, 2019

Disclosed by Bank Jul 3, 2017


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Project Description

According to AIIB documents, the project will finance North-South connectivity along the Central and Eastern parts of Bangalore city through a modern metro system.

The European Investment Bank (EIB) will be the lead financier of the Project and will play a leading role in procurement, environmental and social compliance, and project monitoring and reporting for the Project.
For further Project details, see the following EIB website: http://www.eib.org/projects/pipelines/pipeline/20160816.

 

Investment Description
  • Asian Infrastructure Investment Bank (AIIB)
  • European Investment Bank (EIB)

The estimated project cost is $1785 USD million. AIIB investment is $335 USD million.

EIB - USD583 million

Borrower - USD867 million 

Private Actors
Contact Information

Contact Points
Asian Infrastructure Investment Bank (AIIB):
Mr. Soon-Sik Lee
Project Team Leader/Senior Investment Operations Specialist
Tel: +86 10 8358 0078
E-Mail: soonsik.lee@aiib.org

European Investment Bank:
Mr. Zoltán Donáth
Senior Sector Engineer
Tel: +352 4379 8 2798
E-Mail: z.donath@eib.org

Borrower:
Mr. Bhaskar Dasgupta
Director (MI)
Department of Economic Affairs, Ministry of Finance, Republic of India
Tel: +91 11 2309 2883
E-Mail: bhaskar.dasgupta@nic.in

Implementation Agency:
Mr. S. Vasudevan
Chief Finance Officer
BMRCL
Tel: +91 80 2296 9325
E-Mail: vasudevan@bmrc.co.in

ACCOUNTABILITY MECHANISM OF AIIB

In addition, the AIIB has a Bank Oversight Mechanism. According to AIIB's policies, "people who believe they have been or are likely to be adversely affected by a failure of the Bank to implement the ESP may also submit complaints to the Bank's oversight mechanism in accordance with the policies and procedures to be established by the Bank for such mechanism." However, at the time of writing, it is unclear what the exact scope and function of this Oversight Mechanism will be.