JICA signs Rs 6,100 crore loan pact for Bengaluru Metro Phase 3

Bengaluru: Japanese government agency Japan International Cooperation Agency (JICA) on Tuesday has signed a loan agreement with India to provide financial aid worth nearly Rs 6,100 crore (102,480 million Japanese yen) for the Bengaluru Metro Rail Project Phase 3 (I).

The agreement was signed in Delhi between department of economic affairs joint secretary Alok Tiwari and JICA India office chief representative Takeuchi Takuro.

The project aims to address growing traffic demand in the Bengaluru metropolitan region by expanding the city's mass rapid transportation network, said the agency in a statement.


The project covers civil and architectural works for approximately 44.65 km of metro lines with 31 elevated stations, comprising the Outer Ring Road section (Corridor 3-1) and the western growth corridor (Corridor 3-2).

The initiative is expected to promote regional economic development, improve the urban environment and mitigate climate change by easing traffic congestion and cutting vehicular pollution, said the statement.

The project will also advance transit-oriented development (TOD) through multimodal integration, including feeder buses, shared-mobility services and double-decker viaduct structures, added the statement.

Bangalore Metro Rail Corporation Limited (BMRCL) will serve as the executing agency for implementation.
The loan carries a repayment period of 30 years, including a 10-year grace period, at an interest rate of TORF plus 80 basis points, a rate formula commonly used in Japanese financial transactions.

The project is scheduled for completion by January 2032. Invitations for consulting services are expected to be issued in April 2026, while the tender announcement for the initial civil works procurement package for the viaduct portion is planned for May 2026, said the statement.