The European Investment Bank will finance the construction of India’s Lucknow Metro, including the acquisition of new metro trains. Lending EUR 450 million, EIB may cover half of the total project costs.
The agreement on the first tranche of EUR 200 million will be signed during Prime Minister Narendra Modi’s visit to Brussels as part of the 13th India-EU Summit. The remaining tranches will be disbursed over the course of the project.
“The loan is important for us because it is the largest transport loan outside Europe for a decade, and our first sovereign loan to India,” Richard Willis, a spokesperson for the EIB told The Hindu.
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