EIB to invest 3-bn Euro in new metro projects in UP
The European Investment Bank (EIB) has announced plans to invest 3 billion euros in various upcoming metro projects in Uttar Pradesh, thereby extending its association with the Uttar Pradesh Metro Rail Corporation (UPMRC). A six-member delegation team of the EIB recently met with the state CM and expressed satisfaction with the commitment of UPMRC towards providing world-class infrastructure and environment-friendly transport systems to the people of Uttar Pradesh. The EIB has already provided financial assistance to three metro projects in the state, including the Lucknow Metro Project, Kanpur Metro Project, and Agra Metro Project. It has committed to providing financial assistance of ₹5,551.99 crore (Euro 650 million) for the Kanpur Metro Project, and has already disbursed 200 million euros to the Indian government for the project. For the Agra Metro Project, the EIB will provide a loan of 450 million euros. The EIB has promised to increase its investment from the existing 1.5 billion euros to 3 billion euros. During their visit, the delegation also visited the pavilion stall of UPMRC at GIS in Vrindavan Yojna and undertook a metro ride from Hazratganj to Transport Nagar Metro station. The Uttar Pradesh Metro Rail Corporation is planning to expand its services to six more cities, including Gorakhpur, Pryagraj, Varanasi, Jhansi, Bareilly, and Meerut.
