BANGALORE SUBURBAN RAILWAY PROJECT (EIB-20220637)

Countries
  • India
Geographic location where the impacts of the investment may be experienced.
Specific Location
Bangalore
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • 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
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
U
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Jun 14, 2024
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
RAIL INFRASTRUCTURE DEVELOPMENT COMPANY (KARNATAKA) LTD
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
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, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 321.68 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 300
Converted using 2024-06-14 exchange rate.
Project Cost (USD)
$ 1,693.10 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 1579
Converted using 2024-06-14 exchange rate.
Primary Source

Original disclosure @ EIB website

Updated in EWS Jul 15, 2024

Disclosed by Bank Oct 23, 2023


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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the Bank’s website, the project will co-finance the construction of a new suburban railway network with 58 stations covering 4 dedicated rail corridors in Bangalore, spanning approximately for 149 km in total length.

The aim is to contribute to the sustainable development of the Bangalore metropolitan region through low carbon and climate resilient urban infrastructure and improved access. The new suburban railway network will also improve the business environment for private sector development and facilitate access to amenities and jobs.

The project is in line with the EU Country Strategy Paper for India which highlights the infrastructure gap and need to address rising greenhouse gas emissions.
It supports two main objectives of EIB External Mandate: (i) climate change mitigation, by promoting modal shift from road to rail while reducing greenhouse gas emissions, and (ii) social and economic infrastructure development, by contributing to urban development.

Early Warning System Project Analysis
For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

According to the EIA, the main residual negative environmental impacts of the project include: (i) permanent conversion of open lands to depots and suburban railway corridors and stations; (ii) felling/transplantation of 32.572 trees; (iii) use of finite, scarce, sometimes carbon intensive, materials, such as cement; and (iv) noise, vibration, and visual intrusion for properties adjacent to the alignment, during project operation. Other negative impacts are temporary and localised; most notably, traffic diversions and access restrictions, construction related noise, vibration, air pollution, dust, debris and solid or water waste.

According to Lenders Environmental and Social Policies, the proposed metro rail project in Bengaluru is categorized as High Risk- project. The Project E&S management must therefore comply with both national legislation as well as EIB/ KfW (WB) ESSs. It includes projects in sensitive sectors or with sensitive characteristics and projects located in or near sensitive areas. The proposed project is considered to have significant impacts on sensitive areas, which requires detailed impact assessment of social settings of the project area and social management document, i.e., an SIA and an RPF. A Stakeholder Engagement Plan is required throughout the project life and consultation for high risk projects. The proposed BSRP project is likely to have significant impact on involuntary resettlement hence this sub project comes under “High Risks category” on social impacts and risks The proposed BSRP project is likely to have significant impact on involuntary resettlement hence this sub project comes under “High Risks category” on social impacts and risks.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

Rail Infrastructure Development Company (Karnataka) Limited - K-RIDE is a Joint venture of Government of Karnataka and the Ministry of Railways, headquartered in Bangalore.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Rail Infrastructure Development Company (Karnataka) Limited Client -

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

K-RIDE
# 8, 1st Floor, Samparka Soudha
Dr. Rajkumar Road, opposite Orion Mall, Rajajinagar, 1st Block
Bengaluru – 560010
Karnataka, INDIA

ACCESS TO INFORMATION

You can submit an information request for project information at: https://www.eib.org/en/infocentre/registers/request-form/request-form-default.htm

ACCOUNTABILITY MECHANISM OF EIB

The EIB Complaints Mechanism is designed to facilitate and handle complaints against the EIB by individuals, organizations or corporations affected by EIB activities. When exercising the right to lodge a complaint against the EIB, any member of the public has access to a two-tier procedure, one internal - the Complaints Mechanism Office - and one external - the European Ombudsman. A complaint can be lodged via a written communication addressed to the Secretary General of the EIB, via email to the dedicated email address: complaints@eib.org, by completing the online complaint form available at the following address: http://www.eib.org/complaints/form via fax or delivered directly to the EIB Complaints Mechanism Division, any EIB local representation office or any EIB staff. For further details, check: http://www.eib.org/attachments/strategies/complaints_mechanism_policy_en.pdf

When dissatisfied with a complaint to the EIB Complaints Mechanism, citizens can then turn towards the European Ombudsman. A memorandum of Understanding has been signed between the EIB and the European Ombudsman establishes that citizens (even outside of the EU if the Ombudsman finds their complaint justified) can turn towards the Ombudsman on issues related to 'maladministration' by the EIB. Note that before going to the Ombudsman, an attempt must be made to resolve the case by contacting the EIB. In addition, the complaint must be made within two years of the date when the facts on which your complaint is based became known to you. You can write to the Ombudsman in any of the languages of the European Union. Additional details, including filing requirements and complaint forms, are available at: http://www.ombudsman.europa.eu/atyourservice/interactiveguide.faces

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How it works