The Government of India signed an agreement with the German state-owned development bank KfW for a loan of 340 million euros (₹3,044.54 crore) to support Phase 2 of the Bangalore Metro Rail Project. This agreement, signed on December 13, 2024, marks the completion of 100% financial closure for the project. A separate project agreement was also signed between Bangalore Metro Rail Corporation Limited (BMRCL) and KfW Germany for the said loan. With this new loan agreement, the external funding for Phase 2 of the Bangalore Metro Rail Project is now complete, paving the way for the next phase of construction and expansion of the metro network in the city.