Bangalore Metro PDF

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Report and Recommendation of the Presidentto the Board of Directors

Project Number: 43912March 2011

Proposed LoanBangalore Metro Rail Transit System Project(India)

In accordance with ADBs public communications policy (PCP, 2005), this abbreviated version of theReport and Recommendation of the President excludes confidential information and ADBs assessment ofthe project or transaction risk, as well as other information referred to in paragraph 126 of the PCP.


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CURRENCY EQUIVALENTS(as of 31 January 2011)

Currency Unit Indian rupee/s (Re/Rs)Re1.00 = $0.0218

$1.00 = Rs45.9

ABBREVIATIONS

ADB Asian Development BankASI Archaeological Survey of IndiaBMRC Bangalore Metro Rail CorporationCPS country partnership strategyDMC developing member countryDMRC Delhi Metro Rail CorporationEBITDA earnings before interest, tax, depreciation, and amortizationEIRR economic internal rate of returnha hectare

IEE initial environmental examinationJICA Japan International Cooperation Agencykm kilometerODA official development assistancePAU project administration unitPPP publicprivate partnership

NOTES

(i) The fiscal year (FY) of the Bangalore Metro Rail Corporation ends on 31 March.FY before a calendar year denotes the year in which the fiscal year ends, e.g.,FY2010 ends on 31 March 2010.

(ii) In this report, "$" refers to US dollars.


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Vice-Presidents L. Venkatachalam, Private Sector and Cofinancing OperationsX. Zhao, Operations 1

Directors General P. Erquiaga, Private Sector Operations Department (PSOD)S. H. Rahman, South Asia Department (SARD)

Directors M. Barrow, Private Sector Infrastructure Operations 1, PSOD

B. Carrasco, Public Management, Financial Sector and Trade, SARD

Team leaders H. Hoshi, Investment Specialist, PSODA. Mehta, Senior Finance Specialist (Infrastructure), SARD

Team members R. Barba, Safeguards Specialist, SARDM. Greenhow, Counsel, Office of the General CounselE. Gregori, Unit Head, Project Administration, PSODS. Gupta, Principal Investment Specialist, PSODA. Huang, Finance Specialist, SARDM. Mahurkar, Principal Treasury Specialist, Treasury DepartmentJ. Perera, Principal Safeguards Specialist, SARDR. Peri, Principal Private Sector Development Specialist, SARD

A. Sharma, Senior Director, Office of Regional Economic Integration

In preparing any country program or strategy, financing any project, or by making anydesignation of or reference to a particular territory or geographic area in this document, theAsian Development Bank does not intend to make any judgments as to the legal or other statusof any territory or area.


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CONTENTSPage

PROJECT SUMMARY i

TUI.UT TUTHE PROPOSALUT 1TUII.UT TUBACKGROUND AND RATIONALE UT 1

TUA.UT TUProject Identification and Selection UT 1TUB.UT TUSector BackgroundUT 1TUC.UT TUAlignment with ADB Strategy and OperationsUT 4

TUIII.UT TUTHE PROJECTUT 4TUA.UT TUProject DescriptionUT 4TUB.UT TUDevelopment ImpactUT 6TUC.UT TUEnvironment and Social Dimensions UT 7TUD.UT TUImplementation ArrangementsUT 9

TUIV.UT TUTHE PROPOSED ADB ASSISTANCE UT 10TUA.UT TUThe AssistanceUT 10TUB.UT TUJustification for ADB Assistance UT 10TUD.UT TUAssurancesUT 11

TUV.UT TURECOMMENDATIONUT 11APPENDIXES1. Design and Monitoring Framework 122. Summary Poverty Reduction and Social Strategy 14


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PROJECT SUMMARY

Borrower Bangalore Metro Rail Corporation (BMRC)

Classification Targeting classification: General interventionSector (subsector): Transport, and information and communication

technology (urban transport)Themes (subthemes): Economic growth (promoting economic

efficiency and enabling business, widening access to marketsand economic opportunities); environmental sustainability(urban environmental improvement)

Location impact: Urban (high), national (medium), regional (low)

Environmental andSocial SafeguardsClassification

Environment: BInvoluntary Resettlement: CIndigenous Peoples: C

Project Description The project is the development and operation of an urban metro

rail transit system in Bangalore city (also known as Bengaluru)comprising two intersecting corridors (northsouth and eastwest).The project includes the development of 42.3 kilometers (km) ofmetro rail corridors, 40 stations (1 at-grade, 32 elevated, and 7underground stations), 2 station depots, signaling, electro-mechanical system, and all ancillary facilities and rolling stock.

Impact, Outcome, andBenefits

Urban centers in India suffer from a lack of mass transit publictransportation systems. With increased urbanization, this can be abarrier to equitable and widespread economic growth and isleading to increased private vehicle use. This stimulates trafficdelays, environmental degradation, inefficient fuel consumption,

and economic losses through time wastage.

The project directly addresses these challenges to Bangaloresgrowth and environment by creating a modern mass transit systemthat supports economic growth, employment generation, andequitable connectivity. It also mitigates environmental pollution byproviding an alternative to private vehicles. The project willestablish an ultimately sustainable urban transport company withsound institutional and governance structures, based on aninnovative urban transport financing model. This is a first for Indiaand could become a model for infrastructure development in otherstates and cities.

The focus is on creating a commercially viable and bankableproject that can successfully attract commercial debt, and whichholds the potential for future wider private sector participation. Theproject structure, which uses sovereign loans and support toleverage commercial lending, creates a self-sustaining model forfinancing urban transport projects. These projects are typicallyamongst the most difficult infrastructure projects to finance, andare the ones which least lend themselves to up front private sector


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participation. The public sector approach, with private sectorstructures and discipline and possible future private sector directparticipation, is viewed as the best model for this sector at thisstage of development in India. It is also one which should helpcatalyze commercial debt and private sector participation on amuch wider basis across the country in future.

Implementation of the project will result in a modal shift towardpublic transportation and lower levels of congestion with asubstantial reduction in the number of buses and use of privatevehicles. This will lead to fuel savings, improvements in air qualityand public health, time savings, and less accidents and fatalities.

Project Sponsors The Government of India and the Government of Karnataka.

Proposed ADBAssistance

ADB will provide a direct secured loan (without sovereignguarantee) to BMRC of up to $250,000,000.

ImplementationArrangements

BMRC has been constituted as a special-purpose vehicle with bothsponsors having an equal shareholding. Given the importance ofthe project and the impossibility of financing it on a stand-alonebasis, the sponsors have committed significant support to theproject in the form of equity and subordinated debt. The sponsorshave drawn together experts from various agencies and haveengaged an external technical consultant to carry out the design ofthe metro rail transit system and assist BMRC with procurement,construction, and commissioning of the project, as well as thetraining of operation and management personnel. Procurement ofgoods and services is being undertaken by BMRC throughinternational competitive bidding. Around 80% of construction

contracts have been awarded and about 33% of physicalconstruction has been completed as of end December 2010.

Justification / ADBValue-Added

ADB support provides crucial credibility to the project which hasseveral pioneering features, including lending and institutionalstructures. Successful implementation will set the precedent forsimilar financing models for urban transport as well as providecost-effective connectivity solutions for middle-sized and largeIndian cities, which are suffering from public transport gaps andexponential private vehicle growth leading to increased pollution,accidents, and travel delays.

The projects compliance with ADBs requirements will helppromote strong governance, financial sustainability, robustinstitutional accountability, and overall efficiency in operations.ADBs participation, capital structuring, and due diligence will helpmobilize long-term debt funding and catalyze domestic financialinstitutions to consider long-term loans for the project and othersimilar projects.


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I. THE PROPOSAL

1. I submit for your approval the following report and recommendation on a proposed loan tothe Bangalore Metro Rail Corporation (BMRC) for the Bangalore Metro Rail Transit SystemProject.

II. BACKGROUND AND RATIONALE

A. Project Identification and Selection

1. Project Development

2. Given the need for effective public transport solutions to meet the increasingurbanization-driven challenges in the city, the Government of India and the state government(sponsor(s)) examined a number of possible urban transport solutions for the city, includingdifferent modalities. The rail-based mass transit system was viewed by the sponsors as mostappropriate for the city.

2. Government Financing Approach and Asian Development Bank Involvement

3. Unlike the Delhi metro that is fully funded by government equity and sovereign-guaranteed debt, the national and state governments decided to create a new financing modelfor the project which would only partly rely on government funds (through a mix of governmentequity, government subordinated debt, and onlending from the national government of the JapanInternational Cooperation Agency (JICA) official development assistance (ODA) loan, andleverage these so as to also raise commercial debt from banks and/or private financing sources.The Asian Development Bank (ADB), through a number of technical assistance programs, TPF1FPT hasbeen assisting the national government since 2007 in developing bankable infrastructure projectmodels able to access new financing sources without recourse to sovereign governmentguarantees, whether through commercial nonrecourse debt or publicprivate partnerships

(PPPs). The possible use of ADBs new lending modalities, i.e., nonsovereign public sectorloans, was a factor in this structuring decision.

4. Initial discussions were held with the national and state governments and BMRC in early2009 with a view to including the project under this proposed assistance modality. Due diligenceand structuring assistance to BMRC to help develop a bankable and leveraged financing modelfor the project was provided by the ADB team and consultant financial modeling specialists.Discussions were also held with the national governments Ministry of Urban Development onpossible financing models. After preliminary national government approval of the initialstructuring model for BMRC and the acceptance of nonsovereign public sector lending modalitiesfor the project, a final phase of technical, social, and environmental impact assessments wasundertaken.

B. Sector Background

1. Metro Rail Systems

5. Urban transport is a critical component of urban services. Apart from allowing direct andefficient travel, it also creates a better urban environment by reducing congestion and pollution.

TP

1PT ADB. 2007. Pilot Projects Initiative: Mainstreaming PPPs in India. Manila; and ADB. 2009. Developing Urban

Bankable Projects. Manila.


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Economic benefits of rail systems are significant and include savings in travel time, reducedoperating costs, safer transportation with lower levels of accidents and related fatalities, andlower levels of local pollution. The higher level of connectivity and efficiency makes the railsystem more attractive to businesses and tourists, thereby attracting investments andcontributing to economic growth. Rail-based urban transit systems have an advantage over road-based systems in terms of efficiency and carrying capacity, especially when catering to heavy

passenger traffic in densely populated areas. In developed countries, most large cities have rail-based mass transit railways as the core of their transport systems. However, in developingcountries there has not been enough emphasis on mass transit or integrated city planning, withthe result that many metropolitan cities depend predominantly on private transport modes. Withincreasing road congestion and pollution, cities are being forced to examine and develop bettermeans of transportation. Therefore, rail-based metro systems, with their substantial carryingcapacity, are a mode of choice for large cities with high passenger traffic densities.

6. In India, Mumbai and Chennai had the legacy of a suburban rail system, but the city ofKolkata developed Indias first new metro rail system implemented by Indian Railways. The DelhiMetro Rail Corporation (DMRC) developed its large metro system for Delhi as a stand-aloneproject. Subsequent to this, Bangalore proposed a metro system through a joint-venture initiative

between the national and state governments. Chennai is following a similar model incollaboration with the national government. Mumbai and Hyderabad have awarded metrosystems through a PPP approach as buildoperatetransfer projects. Jaipur, Kochi, and othercities are examining development of metro rail systems.

7. The development of urban rail systems, previously under the ambit of the Indian RailwaysAct 1989, has seen city administrations taking increasing responsibility for urban transportdevelopment under the Indian Tramways Act of 1909 and other subsequent acts. The DelhiMetro Railway (Operation and Maintenance) Act 2002 was specifically enacted to address theneeds of a metro system in Delhi, and a subsequent amendment to this act in 2009 extended itsreach to other metropolitan cities such as Bangalore, Mumbai, and Chennai. Theimplementation, operation, maintenance, and safety aspects of metro systems are covered under

this act.PF

2FP

2. Performance Gaps

8. The lack of a public transport system that efficiently and economically services all parts ofthe city seriously impacts the poor. While those using personal vehicles (such as cars and two-wheelers) are also affected, the proportionate impact on urban poor people is possibly far higherdue to their not having access to personal vehicles. While public buses are generally available,travel by buses through congested urban areas takes more time and is also not comfortable overlonger distances, given the fact that most of the buses are not air-conditioned.

9. Road vehicles are a significant source of air pollution and their proliferation leads to a

degraded urban environment and attendant diseases. A white paper on pollution in Delhi, prior tothe changeover to compressed natural gas for buses, showed that pollution by road vehiclesaccounted for more than 60% of total air pollution. TPF 3 FPT The proliferation of personal modes oftransport (such as cars and two-wheelers) is therefore an immediate concern, since most cities inIndia have a modal share of public transport of only about 50%.

TP

2PT

The act deals with the implementation, operation, tariff fixing, and safety regulations for metro systems.TP

3PT Government of India, Ministry of Environment and Forests. White Paper on Pollution in Delhi, With an Action Plan.

HThttp://envfor.nic.in/divisions/cpoll/delpolln.htmlTH.


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10. While a metro system cannot by itself address all of these severe problems, it will providea high-capacity transport corridor along specific arteries of the city, which will draw a largeproportion of users from the roads. A well-planned intermodal transit system combining busesand rail-based systems will also need to be built across the city; generally the rail-based systemscater to the higher traffic density corridors, while the buses act in the proximate areas as feeders

to the rail system. Without such a system, the effectiveness of the metro would be much lower. Inthe case of Bangalore, at the planning stage, the Bangalore Metropolitan Transport Corporationwas closely involved with the BMRC for planning the bus schedules and routes, taking the metroas the high-density traffic corridor. Key stations such as Majestic and Byappanahalli are beingdeveloped as intermodal centers where the public transport for rail and road are closelyintegrated.

11. One reason why many cities in developing countries have not built metro systems hasbeen the high initial cost. Since most funding has to come from governments and resources areconstrained, the focus has traditionally been on small-scale urban transport improvements suchas widening roads, constructing grade separators, or adding buses to the fleet. Suchimprovements have not been able to address or catch up with the escalating scale of the

problems. While most large cities and governments have realized the importance of having ametro system as a key element of any urban transport system, the funding constraints remain.There is, therefore, a clear opportunity and growing desire for commercial finance to step in andbridge some of the gap.

3. Financing Constraints for Metro Rail Systems

12. The few metro systems developed in India have been funded by the government, eitherdirectly or through sovereign-guaranteed loans. However, investment requirements areaccelerating beyond government financing capacity and the Ministry of Urban Development hasestimated a Rs2,070 billion ($45 billion equivalent) need for urban transport infrastructureinvestment in cities with populations of 100,000 or more in the period 20082028. With these

rising needs, governments are no longer in a position to finance all such projects. The needtherefore for other solutions such as commercial debt, private funds, and PPPs is critical to buildand operate metro systems. However, given the very substantial up front capital investmentrequirements for metro projects and the social and economic limitations on fares and passengertrips, especially in the initial years of operations, short-term financial viability of metro systemsworldwide is rarely achievable. Leveraging of government grants, revenue support schemes,land development rights on additional land given to the project, and/or other revenues fromcommercial development of land in the station areas are seen as essential to ensure viability andbankability.

13. While a number of cities have developed plans for metro projects, the significant fundingconstraints have yet to be addressed. The gradual shift from government direct funding to

sovereign-guaranteed loans and then commercial finance is illustrated by the cases of Kolkata,Delhi, and other cities such as Bangalore and Mumbai. The Kolkata metro was taken up by theMinistry of Railways as a national government project, while in Delhi, the national and stategovernments set up a joint venture and the national government provided sovereign-guaranteeddebt. The most recent projects are seeking commercial finance through debt (Bangalore) or debtand equity (Mumbai and Hyderabad), with viability support coming from the national and stategovernments. In the case of Bangalore, the national government has agreed to participate in a

joint venture with the state government (owned equally), and also to support the project by wayof equity, subordinated debt, and the onlending of the JICA ODA loan.


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C. Alignment with ADB Strategy and Operations

1. Consistency with Strategy 2020

14. As stated in Strategy 2020, TPF4FPT ADB investment in infrastructure is fundamental to achievingpoverty reduction and inclusive growth and also contributes to environmentally sustainable

growth and regional integration. ADBs infrastructure operations are not to be limited to buildingphysical assets, but will also include improving the delivery of infrastructure services through, forexample, building the capacity of developing member countries (DMCs) for better infrastructuremanagement, and promoting institutional and policy reforms that enhance the operationalefficiency and sustainability of infrastructure projects. Under Strategy 2020, ADBs infrastructureoperations will promote private sector engagement in financing infrastructure to augment thesupply of capital for infrastructure. Development of urban transport is one of the focus areas ofurban infrastructure under Strategy 2020. The strategy also envisages ADB helping DMCs movetheir economies onto low-carbon growth paths by modernizing public transport systems. ADBcan assist DMCs and their municipalities address a range of environmental problems resultingfrom rapid urbanization. This includes supporting cleaner modes of transport.

2. Consistency with the Country Partnership Strategy

15. The country partnership strategy (CPS) 20092012 is in line with the nationalgovernment's aims for infrastructure development, requiring over $500 billion over a 5-yearperiod (20072012).TPF5FPT The project strongly supports the CPS, which emphasizes infrastructuredevelopment (e.g., transport, energy, urban, agriculture, and water resources management);catalyzes investment; and facilitates private sector participation in infrastructure development,including support for inclusive and environmentally sustainable growth. The project enablesbetter leveraging of scarce sovereign resources, and spurs private sector and commercialfunding for infrastructure projects.

16. Crosscutting themessuch as private sector development, gender and development, and

environmental sustainabilityhave been mainstreamed within the sector road maps in the CPS.Given the challenges facing India and the world due to climate change and degradation of theenvironment, the environmental focus of the CPS includes a program to lower pollution andgreenhouse gas emissions by strengthening rail and urban transport infrastructure. The projectis, therefore, consistent with meeting the objectives of infrastructure development in anenvironmentally sustainable manner through nonsovereign participation.

III. THE PROJECT

A. Project Description

1. The Borrower and Sponsors

17. The proposal for a metro system in Bangalore was cleared by the state government inMarch 2005 and the national government in April 2006. The national and state governmentsproposed that the project should be implemented through a special-purpose company. BMRC,an entity incorporated in India under the Companies Act 1956, will be the borrower for theproject. BMRC is a public sector entity wholly and jointly owned (50:50) by the national and state

TP

4PT ADB. 2008. Strategy 2020: The Long-Term Strategic Framework of the Asian Development Bank, 20082020.

Manila.TP

5PT ADB. 2009. Country Partnership Strategy: India, 20092012. Manila.


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governments. BMRCs board is chaired by the secretary of urban development of the nationalgovernment, and the managing director is a senior civil servant from the Indian AdministrativeService.

2. Project Design

18. The DMRC has been actively involved in assisting BMRC in planning, design, andprocurement. The planning, design, and supervision of the works are the responsibility of atechnical consultant engaged by BMRC (general consultant). The general consultant is aconsortium of RITES (India), Oriental Consulting Company (Japan), TParsons BrinckerhoffInternationalT (United States), and SYSTRA (France), procured under the JICA guidelines througha transparent process.

19. The metro rail transit system has been designed to meet a capacity of 40,000 peak-hourpeak direction traffic. The operations plan envisages a 3.0-minute gap T Tbetween trains with 31trains on the northsouth line, and a 3.3 minute gap with 25 trains on the eastwest line. End-to-end travel time is 33 minutes on the northsouth line and 44 minutes on the eastwest line. Thescheduled speed is 32 km per hour, with a maximum of 80 km per hour.

20. Procurement in relation to all the construction contracts has been conducted throughopen tenders on a transparent basis. BMRCs procurement processes are dictated by theKarnataka Transparency in Public Procurement Act (1999). Karnataka is one of the few states inIndia to have specific legislation for transparent procurement processes and penalties forviolation thereof. In addition, the JICA ODA loan also has procurement covenants and thereforeall procurement, including that of the general consultants, has been carried out transparentlythrough open tenders. BMRCs audit is carried out by the comptroller and auditor general ofIndia, and is a rigorous third-party examination.

3. Project Outputs and Outcome

21. The project will develop the physical infrastructure for a metro rail system for Bangaloreand will operate the system as per the design parameters. The major components of the projectare as follows:

(i) An eastwest corridor of 18.1 km, including a 4.8 km underground portion.(ii) A northsouth corridor of 24.2 km, including a 4.0 km underground portion and

interconnection between corridors at Majestic.(iii) One at-grade station, 32 elevated stations, and 7 underground stations.(iv) Electrical works consisting of 750 volts direct current third rail traction and power

supply.(v) A signaling and telecommunications system consisting of continuous automatic

train control with cab signaling, a centralized train control system comprising

automatic train protection, and automatic train supervision.(vi) An automatic fare collection system with 69 ticketing gates per station.(vii) Initially 168 rolling stock units (cars) for initial operations, comprising 56 trains of 3

coaches each. Subsequently, in line with projected demand, this will be increasedto 56 trains of 6 coaches each with a total of 336 cars.

(viii) Depots at Byappanahalli and Peenya.

22. The project outcome will be an efficient, well-used, environmentally friendly, andfinancially stable urban transport system for Bangalore. Better connectivity and efficiency in the


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transport systems will make the city more attractive for business investments and contribute toeconomic growth. The project will increase the share of public transport in total intracitypassenger movements and improve the environmental quality of the city. It is estimated that by2021 usage will be around 2 million passenger trips per day, and the underlying modal shift fromprivate to public modes is expected to be 10%15% for BMRC alone (not factoring in any newline developments).

B. Development Impact

1. Contribution to Economic Growth and Poverty Reduction

23. India's economic growth over 20012008 has spurred rapid urbanization, with 28% of thetotal population living in urban agglomerations; this is expected to reach 40% of the totalpopulation, or around 590 million people, living in urban areas by 2030. PF6 FP Forty metropolitancitiesPF7FP with a population of more than 1 million account for 35% of the urban population. It isexpected that by 2030, 60 metropolitan cities will have populations exceeding 1 million. UrbanIndia contributes 58% of gross domestic product, and this is expected to reach 70% by 2030 andgenerate 70% of new employment. The number of urban households is expected to increase

from 22 million in 2010 to 91 million in 2030, with a fourfold increase in average national income.Growth of the urban areas is therefore vital for India's economic growth and for an equitabledistribution of growth, but it brings enormous challenges, not least to effective transportation.

24. To contribute to growth, urban areas require adequate and suitable infrastructure, ofwhich public transportation is an essential component. Public transportation networks (i) enableaccess to more productive urban space usage and improved densification patterns; (ii) mitigateenvironmental pollution in areas where vehicular emissions are significant; (iii) save fuel; and (iv)provide connectivity solutions for all, especially the poor and middle-income groups. Efficienttransport systems save travel time, making city workforces more productive, improving the imageof a city, and making a city a more attractive place for investment and business. Evidenceindicates a direct cost of congestion of around 2% of gross domestic product per year, P Pwhich

public transportation systems can help alleviate. The projects direct development impact is that itcreates a mass transit system that supports economic growth, employment generation, andequitable connectivity. It also mitigates environmental pollution by providing an alternative toprivate vehicles. The project will demonstrate the functioning of a sustainable urban transportcompany with adequate institutional and governance structures and an innovative urbantransport financing model. It will provide a successful modality for public transport which can bereplicated in other cities.

2. Widening Access to Markets and Economic Opportunities

25. The focus of the project is to create a commercially viable and bankable project vehiclethat can successfully attract commercial debt. The project structure, leveraging sovereign equity

and loans with commercial lending, creates a self-sustaining model for financing urban transportprojects. The successful implementation of the project should lead to its replication and catalyzecommercial debt and private sector participation in the sector in other places.

TP

6PT

McKinsey Global Institute. 2010. India's Urban Awakening: Building Inclusiveness, Sustaining Economic Growth.HThttp://www.mckinsey.com/mgi/reports/freepass_pdfs/india_urbanization/MGI_india_urbanization_fullreport.pdfTH.

TP

7PT Of 5,161 urban agglomerations.


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3. Economic Sustainability

26. Implementation of the project will result in a modal shift toward public transportation,lower levels of congestion with a substantial reduction in the number of buses, and lower use ofprivate vehicles, leading to fuel savings, improvements in air quality, time savings, and lowerlevels of accidents. Many of these benefits are difficult to quantify, but BMRC has proposed the

creation of an environmental and social management division that will ensure not only projectcompliance with ADBs environmental and social safeguards but also the development ofemissions monitoring for the city over the long term.

C. Environment and Social Dimensions

1. Environment

27. The project is expected to contribute to significant environmental improvements forBangalore city. A decrease in noise and air pollution along with reduced average fuelconsumption is expected because of reductions in projected traffic growth volumes on the transitcorridors (in a without-project scenario).

28. Temporary adverse environmental impacts are expected largely during the constructionphase of the project involving elements such as the elevated and underground sections of themetro rail alignment, stations, maintenance depots, and casting yards. The project managementhas ensured that adequate mitigation measures have been taken to reduce these impacts.

29. According to initial environmental impact assessments, BMRC has already incorporatedseveral measures to mitigate any environmental impacts, including noise reduction measuresthrough installing soundproof walls and soundproofing pads, and air quality monitoringequipment placed all along the alignments. The Indian Institute of Science in Bangalore wasappointed to monitor the groundwater level and quality during construction.

30. The project has been classified as category B for environment under ADBs SafeguardPolicy Statement. In accordance with ADBs Safeguard Policy Statement (2009), an initialenvironmental examination (IEE) was carried out.

31. Some of the significant impacts and mitigation measures related to the project alignmentare as follows:

(i) Proximity (about 40 meters) of one of the underground sections to the Tipu SultanPalace, which is a heritage structure as per the Archaeological Survey of India(ASI), has been addressed on the basis of mitigation measures to minimizevibration impacts as recommended by the National Physical Laboratories and theASI clearance conditions. The ASI has already accorded a formal clearance to

BMRC to go ahead with the construction based on the National PhysicalLaboratories study findings.(ii) Tree cutting along the alignment has been addressed through better route

planning to avoid or bypass areas with thick vegetation and the implementation ofcompensatory forestation programs (on a 1:10 basis) in pre-identified publicareas. The plantation program was verified and found satisfactory in terms ofnative species, density, and survival rates.

(iii) Debris, spoil generation and disposal from tunneling of underground sections willbe mitigated by sound disposal in low-lying areas in the south of the city approved


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by the Bruhat Bengaluru Mahanagara Palike (civic administration). Othermitigation measures on transportation of soil have been factored into the IEE.

(iv) BMRC has mainstreamed environmental mitigation into its contractual agreementssuch that all contractors involved in construction of the metro will be obliged toimplement the environmental management plan and ambient monitoringprograms, conduct environmental, health and safety audits, and provide periodic

reports to BMRC. Noncompliance and defaults will be followed up with necessaryaction. BMRC has its own environmental and social institutional capacity tocoordinate and supervise the implementation of environmental management planmeasures.

32. Public consultation has been carried out by BMRC and suggestions and comments fromthe community have been incorporated in the project design and execution. The IEE prepared forthe project captures all the above and will be disclosed on the ADB website in accordance withADBs Safeguard Policy Statement.

2. Social Dimensions

33. Land acquisition for the project was initiated in 2006 and has been completed inaccordance with the Karnataka Industrial Area Development Board Act. The total length of theproject corridor (metro line) is about 42.3 km connecting the northsouth and eastwest ends ofBangalore city. The total land requirement for the project was 124 hectares (ha). Of this, 30 ha ofland was private land and the remaining 94 ha of land was government land. There were 875land parcels affected, of which 811 were private and the remaining 64 were government land.The total number of affected households is 1,838. A detailed break up of land requirement foreach corridor is available.

34. BMRC adopted a transparent approach for the acquisition of land and properties, cashassistance for rehabilitation, and appropriate compensation packages. The rehabilitationpackages were developed and have been implemented and cash compensation has been paid

to the affected households by BMRC. The cash assistance included a shifting allowance,inconvenience allowance, right to salvage material, transitional allowance, rental income lossallowance, business premises reestablishment allowance and a business loss allowance. Inaddition, BMRC is meeting the cost of restoring the affected portions of public property, includinga school, hospital, park and religious structure. Rehabilitation packages, designed for the benefitof persons who suffered loss of land, properties and income and livelihoods, have been paidsimultaneously with the compensation. Additionally, affected slums were rehabilitated through anew housing scheme developed in the Peenya area where the slum dwellers have been allottedhousing. BMRC has allotted and registered new houses for the slum dwellers in the name ofwomen of the household which is in compliance with international best practices.

35. A social due diligence audit has been carried out to assess whether land acquisition and

resettlement processes and their implementation complied with ADBs Safeguard PolicyStatement and government guidelines. The social due diligence audit included consultations withaffected local people to assess views on property acquisition, resettlement, and compensationpackages and processes. These have been found to be largely favorable towards the BMRCprocesses, which have also been positively highlighted in the local media. The compensationwas paid at replacement value. BMRC has developed a rehabilitation package dealing withassistance to affected local people with eligibility and entitlements for various losses being, inprinciple, at par with the ADBs requirement under ADBs Safeguard Policy Statement. This isconsistent with international best practices.


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36. Due diligence also identified eight pending cases of litigation related to compensation andresettlement. However, BMRC has already taken all necessary advance action steps, includingdepositing compensation amounts with the court which will determine the grievance claims.Similar cases have in the past been resolved quickly and amicably and generally in BMRCsfavor, since BMRC has remained committed to providing strong compensation and rehabilitationpackages.

37. The project, initially categorized A for involuntary resettlement based on preliminarypublicly available information, has been recategorized as category C following ADBs detailedsafeguards assessment and detailed due diligence. This established that land acquisition andresettlement and rehabilitation processes have been completed (in compliance with ADBsSafeguard Policy Statement) and affected persons have all received compensation (excludingthe eight cases noted in para. 36).

38. The social due diligence report assessed the impacts on indigenous peoples; there areno indigenous peoples affected by the project. The project is categorized C for indigenouspeoples.

D. Implementation Arrangements

1. Management

39. The project is being implemented by BMRC, the special-purpose company established bythe national and state governments for the project in 1994. BMRC will also carry out the projectoperations and management once the metro is functioning. BMRC's board comprises 13directors, which includes five from the national government (urban development, railways, andthe DMRC). The chair of BMRC is the secretary of urban development of the nationalgovernment. There are five board members from the state government, including the managingdirector and principal secretary finance, and three functional directors who are experts in railwaydevelopment and operations or transport engineering. The company has been operating as an

independent entity for several years and will agree in the ADB loan agreement to comply withsound corporate governance requirements.

2. Construction Arrangements

40. BMRC has made good progress and the project is in an advanced stage of constructionas reflected by the following milestones: (i) land acquisition is completed; (ii) reach 1 TPF8FPT is nearingcompletion and proposed for opening by early 2011; (iii) 80% of the contracts have beenawarded, and the balance are under bid; (vi) train manufacture has commenced, with the firsttrain having rolled out in the Republic of Korea in September 2010. TPF9FPT

3. Operations Arrangements

41. BMRC will be the project operator responsible for recruiting operation and maintenancestaff. The operations manual, safety manual and requirements, procedures, and staff training willbe provided by the general consultants. This is in line with the practice followed by the DMRC for

TP

8PT The project is divided into four reaches and underground portions. Reach 1 of 6.5 km with six stations extends

from Cricket Stadium to Byappanahalli station.TP

9PT The procurement followed a global tender, in which four international consortia were short listed prior to obtaining

competitive price quotations. The tender also had a technology transfer element to an Indian domestic company.


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10

Delhi. Indian Railways has a large pool of trained traffic controllers and these may also beseconded to BMRC for train operations. BMRC has proposed that noncritical functions should beoutsourced through suitable contracts.

4. Anticorruption Policy

42. BMRC was advised of ADBs Anticorruption Policy (1998, as amended to date) and policyrelating to the Combating of Money Laundering and the Financing of Terrorism (2003).Consistent with its commitment to good governance, accountability, and transparency, ADB willrequire BMRC to institute, maintain, and comply with internal procedures and controls followinginternational best practice standards for the purpose of preventing corruption or moneylaundering activities or the financing of terrorism, and covenant with ADB to refrain fromengaging in such activities. The loan documentation between ADB and the BMRC will furtherallow ADB to investigate any violation or potential violation of these undertakings.

5. Project Performance Monitoring, Reporting, and Evaluation

43. BMRC will report to ADB on the progress of the project procurement, construction, and

initial operation, as well as the financial statements, business plan, and indebtedness plan.Construction and procurement progress and initial operations will be reviewed by the lenderstechnical consultant and assessed against the projects schedule, specifications, and budget.Disbursements of ADBs loan will be conditional upon receipt by ADB of reports from the lenderstechnical consultant satisfactory to ADB. BMRC will provide, among other things, semiannualunaudited financial statements, audited financial statements, and annual business plans whichinclude projected financial statements, a capital expenditure plan, and confirmation ofcompliance with financial covenants for the next financial year. BMRC will submit the annualindebtedness plan for ADBs approval, and BMRC is obliged to comply with the annualindebtedness plan for the next financial year. BMRC also will provide an annual review ofcompliance with environmental and social safeguards pursuant to ADB's Safeguard PolicyStatement.

IV. THE PROPOSED ADB ASSISTANCE

A. The Assistance

1. Instrument and Amount

44. The proposed ADB loan is of up to $250 million to BMRC, a special-purpose companyestablished to develop, operate, and maintain the project. The loan will be provided from ADBsordinary capital resources without government guarantee.

B. Justification for ADB Assistance

45. ADBs support for the project is justified based on the following:

(i) Urban infrastructure development is often financed mainly by grants from thegovernment, contributions from municipal government finances, or by multilateralfinance institutions backed by sovereign government guarantees. The capitalinvestment for financing urban infrastructure in India is estimated at $1.2 trillion


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from 2011 to 2030 and $2.2 trillion PF10FP if operating expenditures are included. Tomeet such volumes of investment, a paradigm shift is required in sourcingfinancing, including exploring new sources, the efficient application of these funds,and efficient management of assets created so as to minimize operating costs (oroverall life cycle costs) to ensure sustainability. To effect this shift in financing,institutional accountability, good corporate governance, planned urban

development, and effective leveraging of government grants are a prerequisite.ADBs participation, and compliance with ADBs requirements, will help promotestrong governance, robust institutional accountability, and overall efficiency inoperations.

(ii) Few financial institutions have the ability to structure appropriate financial modelsand the appetite to lend long-term funds to capital-intensive public serviceprojects. The creation of a dedicated institutional vehicle for managing life cyclecosts of public infrastructure with due accountability, good governance, andleveraging government grant funds or viability gap funding support will help tocatalyze additional finance for the project. ADBs participation, capital structuring,and due diligence will help mobilize long-term debt funding and catalyze domesticfinancial institutions such as banks and insurance funds to consider long-term

loans for this project. Similar structuring for other projects with viability gap fundingcan effectively replicate this model.

(iii) Compliance with ADBs environmental and social safeguards will ensure properresolution of social issues and mitigation of adverse environmental impacts, if any.

C. Assurances

46. Consistent with the Agreement Establishing the Asian Development Bank (the Charter),TPF11FPTthe Government of India will be requested to confirm that it has no objection to the proposedassistance to BMRC. ADB will enter into suitable finance documentation, in form and substancesatisfactory to ADB, following approval of the proposed assistance by the ADB Board ofDirectors.

V. RECOMMENDATION

47. I am satisfied that the proposed loan would comply with the Articles of Agreement of theAsian Development Bank and recommend that the Board approve the loan of up to$250,000,000 to the Bangalore Metro Rail Corporation for the Bangalore Metro Rail TransitSystem Project from ADBs ordinary capital resources.

Haruhiko Kuroda

President9 March 2011

TP

10PTMckinsey and Company. 2010. India's Urban Awakening: Building Inclusiveness, Sustaining Economic Growth.http://www.mckinsey.com/mgi/reports/freepass_pdfs/india_urbanization/MGI_india_urbanization_fullreport.pdf.

TP

11PT ADB. 1966. Agreement Establishing the Asian Development Bank. Manila.


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12 Appendix 1

DESIGN AND MONITORING FRAMEWORK

DesignSummary

Performance Targets andIndicators

Data Sources and ReportingMechanisms

Impact

1. Improved urban

infrastructure supportseconomic growth in urbancenters through betterconnectivity and access

2. Crowding-in of privatesector investment andcommercial non-recoursefinance into large urbantransport projects

Share of urban Bangalore GDP

increases from 33% in 2008 to38% in 2020

Emergence of similar masspublic transit systems in at leastthree of India's large cities witha population of over 2 million by2015

At least three public transportsystems have private sector,foreign direct investment, andcommercial financial support by2018

Publication of macroeconomic

indicators by the Government ofIndia and the Government ofKarnataka

Assessment reports on urbantransport in the country fromMOUD

Outcome

An efficient, well utilized,environmentally friendly, andfinancially sustainable urban railtransport system is developedfor Bangalore city.

Share of public transportation inBangalore increases from 46%in 2009 by at least 5% by 2019and another 5% by 2023.

Average reduction in passengertravel times at peak hours by atleast 15 minutes for an average

journey of 8 km by 2015

Reduction of vehicularemissions of carbon monoxide,nitrous oxide, andhydrocarbons by at least 2.5%by 2020 from 34 mg/m3 ofnitrous oxide and 4 mg/m3 ofcarbon monoxide in 2006

MOUD reports on urbantransport and on BMRC

Monitoring and progress reportsby BMRC

Independent audits byenvironmental agencies

Outputs

1. Infrastructure for phase 1is completed

2. Well functioninginstitutional and operationalarrangements for managing theMRT system

3. Financially bankablestructure is developed andimplemented

EastWest Corridor: 18.1 kmincluding 4.8 km undergroundportion and depot atByappanahalli is in operation byOctober 2013.

NorthSouth Corridor: 24.2 kmincluding 4.0 km undergroundportion and interconnectionbetween corridors at Majesticand depot at Peenya is inoperation by October 2013.

State government and BMRCprogress reports and onlineposting of construction progress

BMRC minutes on meetings andformally approved institutionalarrangement reports

Audited financial statements ofBMRCADB review mission reports


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Appendix 1 13

DesignSummary

Performance Targets andIndicators

Data Sources and ReportingMechanisms

Inclusion of commercial andother financing into projectstructure for financial closure by

2013

ADB's social and environmentalsafeguards are complied with infull.

During operations, the projectemploys 1,640 key operationsand 70 management staff formanaging the MRT system inplace by 2013

ADB = Asian Development Bank, BMRC = Bangalore Metro Rail Corporation, GDP = gross domestic product, JICA= Japan International Cooperation Agency, km = kilometer, MRT = mass rail transit, MOUD = Ministry of Urban

Development.Source: Asian Development Bank.


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14 Appendix 2

SUMMARY POVERTY REDUCTION AND SOCIAL STRATEGY

Country/Project Title :India: Bangalore Metro Rail Transit System Project

Lending/Financing

Modality:

Direct Loan (Nonsovereign

public sector loan)

Department/

Division:

South Asia Department/Public Management, Financial Sector and

Trade DivisionPrivate Sector Operations Department/Infrastructure Finance Division 1

I. POVERTY ANALYSIS AND STRATEGY

A. Link to the National Poverty Reduction Strategy and Country Partnership Strategy

Consistent with the country partnership strategy (CPS) for India's 3-year assistance program (20092012) Pa

P andspecifically with the CPS emphasis on environmental improvement and Climate Change Implementation Plan (20092011) and recommended financing of "MRT [mass rapid transit] projects in medium sized Indian cities," the projecthas a positive impact on economic growth for poverty reduction. The project aims at (i) environmental improvementthrough clean transport, (ii) effective urban transportation for economic growth, and (iii) the development of abankable project structure as a model for catalyzing private sector funding, all of which are regarded as central goalsof Strategy 2020 of the Asian Development Bank (ADB). P

bP The project supports ADB's private sector development

strategy by establishing a bankable financial model for a large infrastructure project without sovereign guarantee,which will catalyze private sector participation and attract financing from commercial financiers into other suchprojects in India. The project strongly supports the CPS for India by supporting the transport sector (a priority area),as well as other thematic priority areas noted in the CPS such as environmental sustainability, private sectordevelopment, and private sector operations. Consistent with ADB's urban sector, financial sustainability, and socialsafeguards focus, the project supports self-sustainability of urban sector projects, which is in line with ADBs urbantransport strategy for local governments to self-finance and sustain urban development projects without dependenceon central government finances. ADB support provides crucial credibility for the project, which has several pioneeringaspects: (i) new public transport modality, (ii) institutional development, and (iii) project financing structures. Theproject supports implementation of metro rail-based public transport systems. These are crucial for providing cost-effective connectivity, especially in middle-sized Indian cities currently suffering from public transport gaps andexponential private vehicular growth leading to growth in pollution, accidents, and travel delays. Overall, successfulproject implementation will catalyze similar projects in other local municipal governments, leading to better publictransport development in Indian cities and, crucially, spurring commercial finance into the sector, thus effecting abetter use of limited government funds.

B. Poverty Analysis Targeting Classification: General intervention

1. Key issues. The prime impact of the project is on developing effective mass connectivity solutions for urbancenters and thus aiding overall economic growth. By providing a sustainable public urban transport modality inBangalore city, the Metro Rail Transit System Project has an indirect impact on poverty reduction through both costand time savings which can be factored in at various levels, including (i) reduced average travel costs per km versusprivate vehicular transport, (ii) reduced time delays in travel due to a dedicated travel corridor, and (iii) improvedhealth costs over a longer period due to anticipated lower vehicular emissions in the city. In addition, through thedevelopment of a citywide transport grid, the project covers a large catchment area of the city providing accessibilityto both low- and middle-income workers to attractive labor markets in the developing industrial and commercial partsof the city. The project's key outcomes will be the implementation of a metro rail system in the city and the limitedrecourse finance model. Benefits include (i) the provision of sustainable public transport for the city's 8.5 millionpopulation by 2012, providing an alternative to private vehicles; (ii) traffic decongestion and faster travel times versus

the status quo of growing private vehicle traffic, aiding in improving traffic accident rates, time saving for commuters,increased productivity and hence economic growth; (iii) environmental improvement by providing a more energyefficient mass urban transport system (energy requirements estimated to be a fraction of the comparable road-basedsystems) as well as through reducing fuel consumption and pollution impacts from private vehicles, considered to bea key factor in urban pollution growth in recent years; (iv) the demonstration of sustainable financial and operationsmanagement through a dedicated urban transport company; (v) demonstration of bankability structuring through thelimited recourse financing model and credit enhancement mechanisms able to catalyze further commercial financing;and (vi) demonstration of the use of property realizations to provide an innovative revenue source for financinginfrastructure, linked to land use planning and efficient spatial development. The project benefits the urban poor andmiddle class by providing a cheaper, safer, and more efficient public transport system.


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Appendix 2 15

2. Design features. No direct impact on poverty is envisaged as a result of the implementation of this project.Nonetheless, the project will have indirect impacts on Bangalore, Karnataka, and India as a whole.

II. SOCIAL ANALYSIS AND STRATEGY

A. Findings of Social Analysis

Asocial impact assessment was conducted as part of the preparation of environmental impact assessment reports.

Bangalore city has a population of 5.70 million according to the census statistics for 2001, as against the citys earlierpopulation of 2.92 million in 1981 and 4.13 million in 1991. This shows that the population has nearly doubled in thelast 20 years, and the growth rate is currently around 3.8% annually. The geographical boundaries of the city are alsoexpanding rapidly, as evident from the census data, which showed the city area as 386 square kilometers (km

P

2P) in

1981, 446 kmP2

Pin 1991, and 531 kmP2

Pin 2001. With increasing population and reduced available land area, the cityspopulation density was 7,983 persons per kmP

2P in 1981, 9,260 persons per kmP

2P in 1991, and 10,710 persons per kmP

2P

in 2001. It is further projected that the population size of the Bangalore urban agglomeration will be around 7.8 millionin 2011 and 11.0 million in 2021. A city of this size with a rapidly rising population of the above magnitude demands awhole range of civic services, including the vital transportation sector. The per capita income at current prices inurban areas only is Rs28,305; 83.91% of the people are literate. There are 77 hospitals, 31 dispensaries, 2,772primary schools, 1,177 high schools, 209 pre-university schools, 24 engineering colleges, and 4 universities. One-quarter of the people sampled in the eastwest corridor and 41% in the northsouth corridor are from lower economicbackgrounds. The higher-income group is the smallest group, and the middle- and lower-income groups are thebiggest; 75% of the people sampled in both the eastwest and northsouth corridors are business people. In terms ofeducational background, 6.25% of the people sampled in the eastwest corridor are illiterate; in the northsouth

corridor there were no illiterate people in the sample; 29% of the people sampled in the eastwest corridor and almost45% in the northsouth corridor are graduates.

B. Consultation and Participation

Consultations were carried out with all the stakeholders during the preparation of the project. As an integral part ofland acquisition, affected communities and affected people were directly and fully involved in the project. Allstakeholders were informed and the stream of information will continue during the implementation of the project.Consultations were held to ensure participation and minimization of the negative impacts. Different techniques ofconsultation with stakeholders were used during project preparationpublic opinion, public meetings, groupdiscussions, and interactive sessions, etc. Given the chaotic urban road traffic, public opinion makers were askedwhether a metro rail system would be a viable alternative to the existing modes of transport; 91% of the sample feltthat it could be a viable, quick, comfortable and safe means of transport, and thus should be welcomed. Tounderstand the socioeconomic profile of the affected persons, questionnaires were designed and information wascollected from the 788 households. An interactive meeting was held with members of the public, media, and

concerned environmental groups at Bangalore University Senate Hall, when the salient features of the metro railproject for Bangalore along with its projected benefits to the community and environmental and socioeconomicimpacts were explained by the project proponents. This was followed by intense discussions and a question andanswer session. On the basis of deliberations, a consensus emerged from the meeting that the metro rail projectimplementation would result in a better mode of transport with a wide range of benefits to the community. Additionally,consultations were held during the due diligence study after the land acquisition period, and these showed peoplessupport for the project and the smooth process of land acquisition. Consultation will be continued during projectimplementation.

2. What level of consultation and participation (C&P) is envisaged during the project implementation and monitoring?Information sharing Consultation Collaborative decision making Empowerment

3. Was a C&P plan prepared? Yes NoIf a C&P plan was prepared, describe key features and resources provided to implement the plan (including budget,consultant input, etc.). If no, explain why.

C&P was considered as a part of the more extensive resettlement planning exercise. Local communities and affectedpeople were consulted throughout the preparation process to minimize impacts, ensure social acceptance, andincrease equitability. The process will continue during the implementation of the project. Views and concerns of allstakeholders will be taken into consideration and addressed whenever feasible. Finally, local customs, religiouspractices, and traditional activities have been considered as a fully integrated part of the preparation process to avoiddiscrimination and/or disruption of activities. The executing and implementing agency (Bangalore Metro RailCorporation [BMRC]) will ensure that essential participation process will be continued throughout the projectimplementation.


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16 Appendix 2

C. Gender and Development

1. Key issues. No particular issue is expected to arise from the implementation of the project. The project will havea positive impact on women. Gender impacts of transport projects are generally favorable. It is evident that availabilityof a better metro rail system and safe connectivity with better transport services will benefit the women of the area.Their mobility will be improved in terms of access to social services, higher levels of schooling, and better healthfacilities, etc. Additionally, during the project implementation, efforts will be made by the project authority for women to

receive preferential treatment for employment in the civil works, with proper health safeguards. The executing agencywill ensure that affected women are consulted and invited to participate in group-based activities to enable them togain access to and control over resources.

2. Key actions. Measures included in the design to promote gender equality and womens empowermentaccessto and use of relevant services, resources, assets, or opportunities and participation in decision-making process:

Gender plan Other actions/measures No action/measure

III. SOCIAL SAFEGUARD ISSUES AND OTHER SOCIAL RISKS

Issue Significant/Limited/No Impact

Strategy to Address Issue Plan or OtherMeasures Included

in Design

HTInvoluntary resettlementTH No impact Land acquisition had already beencompleted before the intervention ofADBs finance. The land wasalready in the possession of BMRC

and the land was acquired as perthe Karnataka Industrial AreaDevelopment Board. Additionally, arehabilitation package wasdeveloped by BMRC to be providedto the affected people in addition tothe compensation. Therefore, socialdue diligence was carried out togauge the compliance of the landacquisition and resettlement processas per the national and state lawswith that of ADBs policy.

Resettlement plan

Resettlementframework

Combinedresettlement planand indigenouspeoples plan

Combinedresettlementframework andindigenous peoplesplanning framework

Environmental andsocial managementsystemarrangement

NoneHTIndigenous peoples

THNo impact

Indigenouspeoples plan

Indigenouspeoples planningframework

Combinedindigenous peoplesplan andresettlement plan

Combinedresettlementframework andindigenous peoplesplanning framework

Indigenous peoplesplan elementsintegrated in projectdesign with asummary

Environmental andsocial management


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Appendix 2 17

systemarrangement

Environmental andsocial impact matrix

NoneLabor

EmploymentopportunitiesLabor retrenchmentCore labor standards

Job opportunities will

open for skilled andunskilled labor duringprojectimplementation.

Specific assurances will be added

for the Borrower to require itscontractors to comply with the corelabor standards on the workcamps/sites.

PlanOther actionNo action

Affordability No particular issue isexpected.

ActionNo action

Other risks and/orvulnerabilities

HIV/AIDSHuman traffickingOthers(conflict, political

instability, etc.), pleasespecify

There is no other riskforeseen. However,the implementingagency through its civilcontractor will ensureappropriate health,safety, and sensitive

issues during theimplementation of theproject.

PlanOther actionNo action

IV. MONITORING AND EVALUATION

Are social indicators included in the design and monitoring framework to facilitate monitoring of social developmentactivities and/or social impacts during project implementation? Yes No

ADB = Asian Development Bank, BMRC = Bangalore Metro Rail Corporation, CPS = country partnership strategy,MRT = mass rail transit.P

aPADB. 2009. Country Partnership Strategy: India, 20092012. Manila.

P

bP ADB. 2008. Strategy 2020: The Long-Term Strategic Framework of the Asian Development Bank, 20082020.

Manila.Source: Asian Development Bank.

Documents

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