Inauguration of Agra Metro Marks Milestone in Sustainable Urban Transport: A Visionary Step Toward Preserving Cultural Heritage

Inauguration of Agra Metro Marks Milestone in Sustainable Urban Transport: A Visionary Step Toward Preserving Cultural Heritage

(IN BRIEF) Indian Prime Minister Narendra Modi, virtually inaugurated the first 6 km section of the Agra metro, alongside Chief Minister of Uttar Pradesh Yogi Adityanath and other dignitaries. Funded by a €450 million loan from the European Investment Bank (EIB), the metro project aims to alleviate congestion, pollution, and enhance accessibility to jobs and education in Agra. Notably, the metro’s construction near UNESCO World Heritage Sites like the Taj Mahal and Agra Fort is designed to preserve their cultural integrity while improving accessibility. The project underscores EIB’s commitment to supporting sustainable transport initiatives globally and reflects India’s efforts towards visionary urban transport solutions.

(PRESS RELEASE) LUXEMBOURG, 6-Mar-2024 — /EuropaWire/ — The first 6 km section of the Agra metro was inaugurated by Indian Prime Minister Narendra Modi, present virtually, in the presence of Chief Minister of Uttar Pradesh Yogi Adityanath, Managing Director of Uttar Pradesh Metro Rail Corporation Sushil Kumar, and Head of EIB Regional Representation for South Asia Nina Fenton.

The project, backed by the EIB with a €450 million loan, concerns the construction of two interconnected urban metro rail lines (30 km long) and 27 stations in the historic city of Agra, in the state of Uttar Pradesh. The Agra metro addresses congestion, air and noise pollution, road safety and greenhouse gas emissions, while providing an affordable mobility solution to increase accessibility to jobs and study opportunities, including features designed to enhance access, safety and security for women and girls, in particular.

The metro is being constructed in the vicinity of prominent ancient monuments, including the Taj Mahal and Agra Fort, which are UNESCO World Heritage Sites. The project will not only upgrade the accessibility of the various monuments, but its operation is considered as a crucial step towards minimising the currently high air pollution levels in these areas, to protect and preserve their cultural heritage identity. The metro stations close to the Taj Mahal and Agra Fort are underground, ensuring that the new infrastructure does not detract from the majestic beauty of these UNESCO World Heritage Sites.

EIB Vice-President Nicola Beer said: “The European Investment Bank, the EU climate bank, is proud to finance the Agra metro. The project reduces congestion, air and noise pollution and increases accessibility to jobs and study opportunities while including features designed to enhance access, safety and security for women and girls. The Bank’s support for transport in India includes the financing of metro investment in Agra, Bangalore, Bhopal, Kanpur, Lucknow and Pune, with a total of €3 billion committed since 2016. This makes India the largest beneficiary of EIB transport financing outside Europe.”

Managing Director of Uttar Pradesh Metro Rail Corporation Sushil Kumar said: “We are thankful to the European Investment Bank for its continued support to various projects of UPMRC. Your contribution has helped UPMRC in building a sustainable and reliable mass public transit network that will not only significantly enhance connectivity and air quality but will also improve people’s quality of life. UPMRC is committed to providing a world class mass transit system that is sustainable, safe, economical and inclusive.”

EU Ambassador to India and Bhutan Hervé Delphin said: “Agra’s new metro will provide a sustainable, energy-clean and safe transport option for the people of the city and the many tourists visiting its unique cultural heritage. Metros are a good example of European Union-India cooperation in action bringing tangible benefits for people, the climate and the local economy.”

The Agra metro supports sustainable transport and climate action, forms part of the European Union’s Global Gateway initiative in support of projects that improve global and regional connectivity in the digital, climate, transport, health, energy and education sectors.

The EIB’s backing for the construction of the new Agra metro reflects the project’s transformational impact to improve urban transport, cut pollution, travel time and emissions. EIB support is delivering the EIB’s commitment to Prime Minister Modi to provide technical and financial support for visionary urban transport in India’s largest cities.

Background information

About the EIB:

The European Investment Bank 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. The EIB brings the experience and expertise of our in-house engineers and economists to help develop and appraise top quality projects. As an AAA-rated, policy-driven EU financial institution, the EIB offers attractive financial terms — loans at competitive interest rates and with durations aligned with the projects it finances. Through our partnerships with the European Union and other donors, we can provide grants to further improve the development impact of the projects we support.

About EIB Global in India:

The EIB is the largest multilateral public bank in the world. In 2023 it financed around €8.4 billion in investments outside the European Union via EIB Global, the arm of the EIB created in 2022 for activities beyond Europe. Since the beginning of its operations in India in 1993, the EIB has supported 24 projects in the country, investing more than €5 billion in transport and energy projects as well as India’s small and medium enterprises and mid-caps.

About EIB Global in Asia:

EIB Global has been providing economic support for projects in Asia since 2022, facilitating long-term investment with favourable conditions and offering the technical support needed to ensure that these projects deliver positive social, economic and environmental results. For 25 years, the EIB has supported economic development in Asia and the Pacific region. The projects we finance make people’s lives easier — from cutting travel times in Bangalore with a new metro line, to providing cheaper, cleaner energy to western Nepal. In Asia, we have chosen to focus our lending on climate action across all sectors. We also work to include gender equality in our projects, ensuring that women, men, girls and boys can benefit from projects equally and equitably.

About the Global Gateway initiative:

EIB Global is a key partner in the implementation of the European Union’s Global Gateway initiative, supporting sound projects that improve global and regional connectivity in the digital, climate, transport, health, energy and education sectors. Investing in connectivity is at the very heart of what EIB Global does, building on the Bank’s 65 years of experience in this domain. Alongside our partners, fellow EU institutions and Member States, we aim to support €100 billion of investment (around one-third of the overall envelope of the initiative) by the end of 2027, including in India and Asia.

Media Contact:

Enrico Possenti
e.possenti@eib.org
+352 4379 – 82144

Press Office
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SOURCE: European Investment Bank