Press Information Bureau

23.12.2021

Media and Communication

Government of India and European Investment Bank sign finance contract for first tranche loan of Euro 250 million for Agra Metro Rail project

MANU/PIBU/5324/2021

Hon'ble Prime Minister Shri Narendra Modi had inaugurated construction work of Agra Metro project in Agra last year

The Government of India (GoI) and European Investment Bank (EIB) yesterday signed a Finance Contract for first tranche loan of Euro 250 million for Agra Metro Rail Project. Mr. Rajat Kumar Mishra, Additional Secretary, Department of Economic Affairs, Ministry of Finance, on behalf of Government of India and Mr. Edvardas Bumsteinas jointly with Mr. Roger Stuart, Head of Divisions on behalf of European Investment Bank (EIB) signed the loan document in New Delhi and in Brussels respectively.

Hon'ble Prime Minister Shri Narendra Modi had inaugurated construction work of Agra Metro project in Agra, Uttar Pradesh, last year through video conference.

EIB had approved a total loan of Euro 450 million to fund the Agra Metro Rail Project. The project aims to provide safe, reliable, affordable and environment friendly public Mass Rapid Transit System for Agra city which will improve mobility and support endeavour for planned urban development in Agra. The financing from EIB will help to fund construction of 29.4 km metro corridor comprises of Corridor-1 from Sikandara to Taj East Gate (14 km) and Corridor-2 from Agra Cantt. to Kalindi Vihar (15.4 km) in the Agra City. Further, the project will enhance economic productivity of the city and catalyse job creation.

Ministry of Housing and Urban Affairs is the Government of India's line ministry for this Project and Uttar Pradesh Metro Rail Corporation Ltd. (UPMRCL) is the implementing agency.

Tags : Finance contract Signing of

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