Centre signs MoU with EU Investment Bank for rolling out Pune Metro Rail Project

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In a bid to develop an efficient, safe, economic metro system in Pune, the Government of India and European Investment Bank (EIB) on May 7 signed a financial contract for the second tranche of €150 million through a virtual signing ceremony.

The signing ceremony was held in the presence of H.E. Francisco Andre, Secretary of State for Foreign Affairs and Cooperation, Portugal and H.E. Werner Hoyer, President EIB. K Rajaraman, Additional Secretary, Department of Economic Affairs, Ministry of Finance, signed the loan on behalf of the Government of India and Christian Kettel Thomsen, Vice-President, signed the loan on behalf of EIB.

EIB agreed to provide a loan amount of €600 million to fund the Pune Metro Rail project. The Finance Contract for the first portion of €200 million loan was signed between the Centre and EIB on July 22, 2019.

The project aims to provide an efficient, safe, economic and pollution-free Mass Rapid Transit System in the densely populated area of Pune city.

Source

Centre signs MoU with EU Investment Bank for rolling out Pune Metro Rail Project

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