EIB Global Provides €450 Million Loan For Agra Metro

Agra metro will help cut pollution and carbon emissions and improve safety of women passengers
India largest beneficiary of European Investment Bank (EIB) transport financing outside Europe
EIB has provided €3 billion for transport across India since 2016

Agra, Mar 06 The first 6 km section of the Agra metro was inaugurated today by Indian Prime Minister Narendra Modi, present virtually, in the presence of Chief Minister of Uttar Pradesh Yogi Adityanath, Managing Director of Uttar Pradesh Metro Rail Corporation Sushil Kumar, and Head of EIB Regional Representation for South Asia Nina Fenton.

The project, backed by the EIB with a €450 million loan, concerns the construction of two interconnected urban metro rail lines (30 km long) and 27 stations in the historic city of Agra, in the state of Uttar Pradesh. The Agra metro addresses congestion, air and noise pollution, road safety and greenhouse gas emissions, while providing an affordable mobility solution to increase accessibility to jobs and study opportunities, including features designed to enhance access, safety and security for women and girls, in particular.

The metro is being constructed in the vicinity of prominent ancient monuments, including the Taj Mahal and Agra Fort, which are UNESCO World Heritage Sites. The project will not only upgrade the accessibility of the various monuments, but its operation is considered as a crucial step towards minimising the currently high air pollution levels in these areas, to protect and preserve their cultural heritage identity. The metro stations close to the Taj Mahal and Agra Fort are underground, ensuring that the new infrastructure does not detract from the majestic beauty of these UNESCO World Heritage Sites.

EIB Vice-President Nicola Beer said: “The European Investment Bank, the EU climate bank, is proud to finance the Agra metro. The project reduces congestion, air and noise pollution and increases accessibility to jobs and study opportunities while including features designed to enhance access, safety and security for women and girls. The Bank’s support for transport in India includes the financing of metro investment in Agra, Bangalore, Bhopal, Kanpur, Lucknow and Pune, with a total of €3 billion committed since 2016. This makes India the largest beneficiary of EIB transport financing outside Europe.”

Managing Director of Uttar Pradesh Metro Rail Corporation Sushil Kumar said: “We are thankful to the European Investment Bank for its continued support to various projects of UPMRC. Your contribution has helped UPMRC in building a sustainable and reliable mass public transit network that will not only significantly enhance connectivity and air quality but will also improve people’s quality of life. UPMRC is committed to providing a world class mass transit system that is sustainable, safe, economical and inclusive.”

EU Ambassador to India and Bhutan Hervé Delphin said: “Agra’s new metro will provide a sustainable, energy-clean and safe transport option for the people of the city and the many tourists visiting its unique cultural heritage. Metros are a good example of European Union-India cooperation in action bringing tangible benefits for people, the climate and the local economy.”

The Agra metro supports sustainable transport and climate action, forms part of the European Union’s Global Gateway initiative in support of projects that improve global and regional connectivity in the digital, climate, transport, health, energy and education sectors.

The EIB’s backing for the construction of the new Agra metro reflects the project’s transformational impact to improve urban transport, cut pollution, travel time and emissions. EIB support is delivering the EIB’s commitment to Prime Minister Modi to provide technical and financial support for visionary urban transport in India’s largest cities.