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.
The estimated project cost is $1785 USD million. AIIB investment is $335 USD million.
EIB - USD583 million
Borrower - USD867 million
Asian Infrastructure Investment Bank (AIIB):
Mr. Soon-Sik Lee
Project Team Leader/Senior Investment Operations Specialist
Tel: +86 10 8358 0078
European Investment Bank:
Mr. Zoltán Donáth
Senior Sector Engineer
Tel: +352 4379 8 2798
Mr. Bhaskar Dasgupta
Department of Economic Affairs, Ministry of Finance, Republic of India
Tel: +91 11 2309 2883
Mr. S. Vasudevan
Chief Finance Officer
Tel: +91 80 2296 9325
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.