UP metro projects will receive $3 billion investments from EIB

16 Feb 2023 CW Team

The European Investment Bank (EIB) has extended its partnership with the Uttar Pradesh Metro Rail Corporation (UPMRC) by announcing plans to invest 3 billion euros in a number of upcoming metro projects in Uttar Pradesh.

In a recent meeting with the state chief minister, a six-member EIB delegation team expressed satisfaction with UPMRC's dedication to providing the people of Uttar Pradesh with world-class infrastructure and environmentally friendly transportation options. The Lucknow Metro Project, the Kanpur Metro Project, and the Agra Metro Project are three of the state's metro projects for which the EIB has already provided financial support.

It has pledged to provide financial support for 650 million euros, for the Kanpur Metro Project, and it has already given the Indian government 200 million euros for the project. The EIB will provide a loan of 450 million euros for the Agra Metro Project.

The EIB has promised to invest an additional 3 billion euros, up from the current 1.5 billion euros. The delegation also went to the UPMRC pavilion at GIS in Vrindavan Yojna and took the metro from Hazratganj to Transport Nagar Metro station during their trip. Six additional cities, including Gorakhpur, Pryagraj, Varanasi, Jhansi, Bareilly, and Meerut, will soon be served by the Uttar Pradesh Metro Rail Corporation.

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