EIB financed Eur450 million (Rs 3,502 crore) to Lucknow Metro project and is also giving financial assistance to Agra and Kanpur Metro projects.
A six-member delegation of the European Investment Bank (EIB) headed by Vice President Kris Peeters visited Lucknow Metro Stations, Operation Control Centre (OCC), Training Centre and splendid pavilion stall at the ongoing UP Global Investors Summit 2023 in Lucknow. The delegation took the metro ride from Hazratganj to Transport Nagar Metro station, where they commended the beauty and upkeep of the metro stations. The train ride was followed by their visit to the Operations Control Centre (OCC) and training centre at Metro Depot.
Earlier in the day EIB delegation visited Chief Minister Yogi Adityanath at his residence. EIB VP said that EIB would like to increase the investment in Uttar Pradesh significantly from existing Eur1.5 billion to Eur3 billion.
EIB financed Eur450 million (Rs 3,502 crore) to Lucknow Metro Project which were made available to UPMRC through gross budgetary resources in the form of Pass Through Assistance (PTA) from Govt of India. EIB is also giving financial assistance to Agra and Kanpur Metro projects.
EIB has agreed to finance Eur650 million (Rs 5,551.99 crore), to Kanpur Metro Project. EIB has already disbursed Eur200 million to government of India on Dec-2022 for this project.
For Agra Metro Project EIB has agreed to finance Eur450 Million. Out of EURO 450 million the Finance Contract of Eur250 million has been signed between EIB and Govt. of India on 22.12.2021. As on 31.01.2023 cumulative disbursement of loan was Rs 1,374.50 crore.
The EIB delegation came to Lucknow to attend the session in the ongoing UP Global Investors Summit. EIB team visited the pavilion stall of UPMRC at UPGIS at Vrindavan Yojna. UPMRC MD Sushil Kumar briefed the EIB team about the progress of Agra and Kanpur projects. He futher said, “Our commitment since the inception of this project is the result of today’s praise by EIB Vice President. We will stick to our promise of providing world class transport system to the people of Uttar Pradesh.”
Kris Peeters said, “EIB is committed to support India’s own ambitious agenda on climate, renewable energy, connectivity and sustainable finance, in particular by supporting projects with strong climate action benefits.We are happy to see commitment of UPMRC towards providing world class infrastructure and environment friendly transport system to the people of Uttar Pradesh. We will keep supporting UPMRC in further proposed projects on aspect of finance.”
In Uttar Pradesh, Metro is successfully operating in five cities and UPMRC is looking forward 2nd corridor of Lucknow Metro as well as cities like Gorakhpur, Pryagraj, Varanasi, Jhansi, Bareilly and Meerut.
The six member delegation included Kris Peeters, Vice President; Nina Fenton, Head of Regional Representation for South Asia; Edvardas Bumsteinas, Head of Public Sector Operations, Asia and Pacific; Barbara Cattrysse, Advisor to Vice President and Enrico Possenti, Press Officer.
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