Loan agreement between AFD, EIB, MahaMetro on the cards

ST Correspondent
Thursday, 28 June 2018

Pune metro rail project is planning to raise 600 million euros from EIB and 245 million euros from AFD

Pune: Following the successful appraisal visit of European Investment Bank (EIB) for the metro project on Wednesday, MahaMetro officials are expecting that the loan agreement between the two agencies will soon be executed.

Earlier in January, another agency AFD had completed their process of appraisal visit and so the MahaMetro is expecting funds by October this year. 

In all, the Pune metro rail project is planning to raise 600 million euros from EIB and 245 million euros from AFD. Over the last two days, the EIB team led by Neil Valentine (Head of Division of Urban Mobility), Sunita Lukkhoo (Loan Officer, Deputy Adviser), Zoltan Donath (Lead Transport Engineer), Birgitte Keulen (Transport Economist) and Venkat Rao (social expert), were on an appraisal mission to Pune to evaluate the physical progress of the Pune metro project and also to discuss various other things related to the project including land acquisition for the project, environmental and social issues. The EIB team visited all alignment work and work done on the riverfront.

The EIB delegation as a part of the appraisal mission also held meetings with Chairman and Managing Director of PMPML Nayana Gunde and her team and also with the PMC team headed by the municipal commissioner, additional municipal commissioner (General) to get a hands-on understanding about the coordination between MahaMetro, PMPML and PMC regarding the aspects related to street designing, street planning, transport integration including BRTS, first mile – last mile connectivity and multimodal integration.

Speaking about the EIB visit, MahaMetro Managing Director Brijesh Dixit. said, “Earlier the AFD team had completed their appraisal mission. The financial closure of the Pune Metro project is close to finalisation and we are confident that we will be signing the loan agreement with both the agencies by October 2018.”

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