Delegation of the European Union to India and Bhutan

European Investment Bank welcomes opening of Lucknow metro – one year ahead of schedule

11/03/2019 - 09:36
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Lucknow’s first metro, financed by a EUR 450 million (Rs.33 billion) long-term loan from the European Investment Bank, is ready for its first passengers.

The construction of the 23km long new metro line and purchase of a fleet of metro trains was finished one year ahead of schedule. The line is the first part of an expected broader metro network planned for the capital of Uttar Pradesh, the most populous state in India. Once operational the new metro is expected to increase use of public transport from 10% to an estimated 27% in the city of 3 million people. 30% of the trains will be operated and driven by female train operators. In addition, 40% of all the station controllers/train operators will also be females. The project will not only reduce traffic and cut journey times but will make a valuable contribution to lowering emissions.

“Opening a year ahead of schedule, the Lucknow Metro is a success story. We are impressed by the quality of work of our Indian partners and how the project went ahead so fast,” said EIB Vice-President Andrew McDowell, responsible for lending operations in South Asia. “The project is one of the largest commitments of the European Investment Bank in India and the most significant support for sustainable transport outside Europe. The first metro line in Lucknow is a flagship project not only for Uttar Pradesh and India, but also for the EU Bank. It marks a new era in our engagement in the country.”

The Ambassador of the European Union to India, Tomasz Kozlowski, welcomed the news, "I congratulate the citizens of Lucknow and all those who contributed to the building of the Lucknow Metro Project. It is a great achievement. I am happy that the European Investment Bank has also contributed to this success. EIB's growing engagement in India is another confirmation of the EU's determination to successfully implement the EU-India Partnership for sustainable development and modernization."

Background

About the European Investment Bank

The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals.

Outside the European Union the European Investment Bank implements the financial components of agreements concluded under European development aid and cooperation policies to support investment projects in some 150 non-member countries around the world.

The EIB’s lending outside the EU is determined by multi-annual mandates entrusted to the Bank by the EU and EU Member States. Under the External Lending Mandate (ELM) the EIB supports private sector and small business access to finance and investment in Economic and social infrastructure and climate related projects.

About the European Union

The European Union is made up of 28 Member States who have decided to gradually link together their know-how, resources and destinies. Together, during a period of enlargement of 50 years, they have built a zone of stability, democracy and sustainable development while maintaining cultural diversity, tolerance and individual freedoms.

EU-India relations

For over 55 years, the EU and India have worked together to reduce poverty, prevent disasters, expand trade, maintain peace and security, promote joint research and innovation, amongst others in areas of water, health, energy, sustainable modernization, and address societal issues in general. In today's challenging international environment, the EU and India share the same values of democracy, human rights, and fundamental freedoms, and support the rules-based global order centered on multilateralism, as reflected in the EU's new Strategy on India, released in November 2018. More information at http://eeas.europa.eu/delegations/india

For more information:

Poonam Kapila

poonam.kapila@eeas.europa.eu

 

 

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