Press Release from 2016-07-27 / Group, KfW Development Bank
Fast routes to work and environmentally friendly transport: KfW financing water metro in India
- EUR 85 million provided for water transport system in Kochi
- The metro, boats, buses and rickshaws are being included in the setup of an integrated public transport network
- 20% less fuel consumed – less environmental pollution due to energy-efficient boats
KfW has signed a loan agreement with the Republic of India for EUR 85 million on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ). The loan is to be used to finance an integrated water transport system in the city of Kochi in Southern India and will be transferred to the Kochi Metro Rail Limited (KMRL) via the Indian state of Kerala. Plans have been drawn up to establish an urban transport system, which would provide connections between the waterways, buses, the metro and other means of transport, such as auto rickshaws and bicycle hire services. In order to ensure that the future transport system functions without any problems, all transport networks, timetables and the ticketing system are to be harmonised and standardised. This development will ensure a seamless transport network, as electric buses and rickshaws will transport passengers to the boats, and footpaths and cycle lanes will be created. The ferry boats acquired for this project will consume 20% less fuel than the boats currently in use.
Kochi is one of the 100 "Smart Cities" in India that have set themselves the target of improving the standard of living of its people by investing in public infrastructure and modern services. Germany has pledged the city its support towards achieving this goal. "The development and the energy-efficient modernisation of the water transport system will help to signi-ficantly improve the mobility of the city's population, while also reducing environmental pollution and the volume of resources consumed. With this development, Kochi is making a vital step towards becoming a 'Smart City'," said Dr Norbert Kloppenburg, Member of the KfW Group Executive Board
KfW is financing in particular the procurement of energy-efficient boats, the renovation and construction of new landing and mooring areas, and the dredging work required along the ferry routes.
India is one of Germany's oldest and most important partner countries. Since the beginning of the German development cooperation in 1958, India has received government commitments totalling EUR 13 billion, which is the highest amount worldwide. The bilateral cooperation is focusing on the fields of energy, the environment (including urban development) and sustainable economic development.
Further information on KfW Development Bank is available at: www.kfw-entwicklungsbank.de.