EIB approves loan of €150 million for Pune's metro rail network

13 Feb 2023 CW Team

The European Investment Bank announced a €150 million, 20-year loan to help Pune's metro rail construction. More than three million residents of Pune will be able to travel more easily as a result of this.

The project's implementing organisation is the Maharashtra Metro Rail Corporation. For Pune's three million residents, this will simplify travel.

With a total investment of €500 million from the EIB, 31.25 km of metro construction and 30 stations will be built, serving 159 million passengers annually. Travel time will be shortened, inexpensive and accessible transportation will be provided for all, the city's quality of life and business climate will improve, and greenhouse gas emissions will be decreased. The safety of female travellers will be increased by a number of focused actions.

The Pune metro will generate at least 900 new jobs once it is finished in 2023. Together with Agence Française de Développement, the initiative is co-financed (AFD).

The EU's Global Gateway Initiative, which supports initiatives that strengthen global and regional connectivity in the digital, climate, transport, health, energy, and educational sectors, includes this project, which supports sustainable transportation and climate action.

After it is completed, the EIB-backed Pune metro rail will make it easier for the more than 3 million residents of the city to move. Investment in sustainable transportation, backed by a total loan of € 500 million, offers more accessible and cost-effective access to markets, employment, healthcare, and education while preserving the environment and enhancing municipal air quality.

Also read:
Indore Metro to be started by September 2023
MPMRCL expands workforce to meet Indore Metro Project's deadline

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