European Investment Bank Approves 49.5 Million Euro Top-Up Loan To Pune Metro, 240 Million Euro For Nagpur Metro Expansion

The European Investment Bank (EIB) has approved a top-up loan of 49.5 million euros for Pune Metro, reinforcing its commitment to sustainable urban transport in India, the Indian Express reported.

This additional financing complements the EIB’s earlier 600 million euro investment in the city’s metro network, which covers two lines totalling 33.2 km, 30 stations, and 102 modern metro cars across the PCMC–Swargate and Vanaz–Ramwadi stretches.

Pune Metro network has transported over 100 million passengers since March 2022, providing a safe, eco-friendly alternative to private vehicles while easing congestion and reducing pollution.

The service particularly enhances accessibility for women and young commuters.

Alongside Pune, the EIB has approved a 240 million euro loan for Nagpur Metro’s extension.

The new stretches are expected to cut the city’s transport-related carbon emissions by 22 per cent, with daily ridership projected to grow 75 per cent by 2041.

Expansion of the network will more than double its current length, improving connectivity and accessibility across Nagpur.

EIB Vice-President Nicola Beer said, “By extending Nagpur’s Metro and further supporting Pune’s network, we are helping to deliver cleaner air, safer travel and faster connections for millions of people."

"These projects show how European financing can have a direct impact on people’s daily lives while supporting India’s green transition and climate goals. With more than 3.6 billion euro committed since 2016, India remains our largest transport partner outside Europe under the EU Global Gateway strategy,” He added.

Both projects aim to shift passenger traffic from road-based transport to sustainable metro systems, resulting in lower carbon emissions, reduced urban air pollution, fewer road accidents, and quieter streets.

Additionally, faster and more cost-effective commutes will improve access to employment, education, and healthcare services for millions of urban residents.

The EIB, the long-term lending institution of the European Union, finances projects aligned with EU policy objectives, including climate action, economic growth, and sustainable urban mobility worldwide.

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