Prime Minister Shri Narendra Modi had inaugurated the construction work of the Agra Metro project in Agra, Uttar Pradesh, last year through a video conference.
The central government and European Investment Bank (EIB) on Thursday, signed a Finance Contract for the first tranche loan of Euro 250 million for the Agra Metro Rail Project.
Rajat Kumar Mishra, Additional Secretary, Department of Economic Affairs, Ministry of Finance and Edvardas Bumsteinas jointly with Roger Stuart, Head of Divisions signed the loan document in New Delhi and in Brussels respectively.
Meanwhile, Prime Minister Shri Narendra Modi had inaugurated the construction work of the Agra Metro project in Agra, Uttar Pradesh, last year through a video conference.
EIB had approved a total loan of Euro 450 million to fund the Agra Metro Rail Project. The project aims to provide a 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 the construction of a 29.4 km metro corridor comprising 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 the economic productivity of the city and catalyse job creation.