February 28, 2014
Bangalore, February 28, 2014: In an effort to modernize the teeming city Bangalore the Japan International Cooperation Agency (JICA) has extended Official Development Assistance Loan (ODA) to the Bangalore Metro Rail Corporation Ltd. (BMRC) for construction of Bangalore Metro. The first loan agreement for the Bangalore Metro project was signed in March 2006 with a loan amount of 44,704 million Japanese Yen (approximately Rs 2,700 crores), followed by second loan agreement signed in June 2011 with a loan amount of 19,832 million Japanese Yen (approximately Rs 1,200 crores). The elevated stretch of 10 kms with 9 stations from Peenya Industry station to Sampiege station was inaugurated today, which is the second section opened after the first section from Byappanahalli station to M.G. Road station for 7.1 km length having 6 stations being opened to public in October, 2011.The completion of the metro will mitigate the impacts caused by mounting traffic in Bangalore such as increased traffic congestion, air pollution, road accidents and journey time.
The Bangalore Metro Rail Corporation Ltd. organized an inaugural opening ceremony attended by Union Railway Minister, Mr. Mallikarjun Kharge, Petroleum and Natural Gas Minister, Dr. M. Veerappa Moily, State Minister for Micro Small and Medium Enterprises, Mr. K.H. Muniyappa, Chief Minister of Karnataka, Mr. Siddaramaiah, Japanese Ambassador Mr. Takeshi Yagi and Chief Representative of JICA India, Mr. Shinya Ejima.
According to Mr. Shinya Ejima, Chief Representative, JICA India, "The Transport sector has witnessed a paradigm shift in India and the JICA has acted as a key player in assisting Metro projects in Delhi, Kolkata, Chennai and Mumbai in addition to Bangalore. The opening of this newly constructed stretch of 10 km of Bangalore Metro will help improve the public transportation systems and mitigate traffic congestion in the congested areas of Bangalore."
JICA's contribution to Urban Transportation sector
The transport sector accounts for 49% of total JICA assistance to India between 2003 and 2012. Within this sector, metros accounts for the largest share (77%), followed by railways (12%), roads (10%), and ports (1%). India is experiencing rapid urbanization. While the registered number of automobiles and motorcycles are surging, the development of public transportation infrastructure is much lagging. As a result, traffic congestion, particularly in metropolitan cities such as Delhi, Mumbai, Bangalore, Kolkata and Chennai viewed as engine for economic development in is becoming a serious problem. To mitigate traffic congestion and promote regional economic growth through environmental conservation measures, JICA has been supporting construction of metros in Delhi, Bangalore, Kolkata and Chennai, in addition to the Bangalore.
Established as an independent administrative institution, the Japan International Cooperation Agency (JICA) aims to contribute to the promotion of international cooperation as well as the sound development of developing regions.
JICA works to help developing countries become self-reliant in pursuing their own socio-economic development. Its aim is to act as a bridge between Japan and developing countries so that their knowledge and experience can be shared and developing nations can strengthen their own problem solving capabilities.