Lucknow Metro gets 450 million Euro loan from European Investment Bank

Lucknow Metro gets 450 million Euro loan from European Investment Bank

Loan agreement signed in the presence of Prime Minister in Brussels
Lucknow Metro will get a loan assistance of 450 million Euros (Rs.3,502 cr) from European Investment Bank (EIB) for its Phase-1A project. An agreement in this regard was signed in Brussels on March 30,2016 in the presence of Prime Minister Shri Narendra Modi during his visit to the Belgium capital. The loan amount will be released in two tranches of 200 million Euros and 250 million Euros.

The loan agreement was signed by the Indian Ambassador to Belgium Shri Manjiv Singh Puri and Vice-President of European Investment Bank Shri Jonathan Taylor.

The 22.878 km long Lucknow Metro Phase-1A project was approved by the Government of India in December, 2015 at a cost of Rs.6,928 cr on 50 : 50 equity funding by the central and state governments. 


Germany’s KfW to give 500 million Euro loan to Nagpur Metro

First German assistance to Metro project in the country
German Government’s Development Bank KfW will provide a loan assistance of EUR 500 million (about Rs.3,750 cr) for the modern and sustainable metro system for Nagpur city being executed by Nagpur Metro Rail Corporation Limited (NMRCL). An agreement in this regard was signed today in New Delhi by the Department of Economic Affairs and KfW. Shri S.Selvaraj, Joint Secretary, Department of Economic Affairs and Shri Roland Siller, Director General of KfW.

The loan period is 20 years with a moratorium of five years and disbursal will be based on the progress of the project over three years.

Costing Rs.8,680 cr (EUR 1,240 million), Nagpur Metro is the first metro to be financed under the Indo German partnership for clean, socially inclusive and climate friendly mobility for people in cities.

German Ambassador Dr.Martin Ney, OSD (Urban Transport) in the Ministry of Urban Development Shri Mukund Sinha, Managing Director of Nagpur Metro Shri Brijesh Dixit and others were present on the occasion of signing of agreement.
Sanctioned by the Government of India in August 2014, Nagpur Metro Project envisages two corridors i.e 19.70 km North-South section from Automotive Square to Khapri and 18.60 km long line between Prajapati Nagar and Lokmanya Nagar. Physical works commenced in May, 2015 and the whole Metro would be operational by March, 2019. 


Shri Rajiv Gauba takes over as Secretary (Urban Development)
To focus on effective implementation of new urban schemes
Shri Rajiv Gauba, IAS (Jharkhand cadre-1982 batch) today took over as Secretary to the Government of India in the Ministry of Urban Development.

Shri Gauba has wide-ranging experience in senior positions at policy making and programme implementation in the Central and State Governments and in international organisations. Hailing from Punjab, the 1959 born Shri Gauba is a physics graduate from Patna University.

He was Chief Secretary, Jharkhand for 15 months before joining the central government today. Earlier, Shri Gauba served in the central government in the Ministries of Home, Defence, Finance, Environment and Forests and Department of Electronics and Information Technology in senior positions.

Shri Gauba also served in the International Monetary Fund representing the Country for four years on the Board of IMF.

He was Collector and District Magistrate for 7 years in the districts of Gaya, Nalanda and Muzaffarpur.

In a meeting with senior officials of the Ministry of Urban Development soon after assuming charge this morning, Shri Rajiv Gauba said; “With the launch of new urban development initiatives like the Smart City Mission, Atal Mission for Rejuvenation and Urban Transformation, Heritage City Development Mission and Swachh Bharat Mission, the focus of the Ministry now shifts to effective and timely implementation of the schemes by the States and Urban Local Bodies through effective coordination with them. The Government is attaching priority for urban agenda and best efforts need to be made for successful implementation of the new initiatives.”
Shri Gauba joined the Ministry of Urban Development on superannuation of Shri Madhusudhan Prasad on March 31,2016.   

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