India, EIB sign contract for first tranche loan of Euro 250 million for Agra Metro Rail Project

New Delhi: Government and European Investment Bank yesterday signed a Finance Contract for first tranche loan of 250 million euros for Agra Metro Rail Project.

 

Prime Minister Narendra Modi had inaugurated construction work of Agra Metro project in Agra last year through video conference.

European Investment Bank had approved a total loan of 450 million euros 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. It 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. The project will also enhance economic productivity of the city and catalyse job creation.