The European Investment Bank (EIB) has announced funding of around Rs 2,969 crores to strengthen India's sustainable urban transport network, with major investments planned for Pune and Nagpur metro projects.
The financial package, announced through the bank’s development arm EIB Global, includes Rs 2,461 crores for the Nagpur Metro extension and an additional around Rs 5077 crores for the Pune Metro in a move to aim for cleaner and safer mobility in India’s rapidly expanding cities.
The funding is expected to improve daily commuting, cut pollution, and reduce traffic congestion while offering a reliable, eco-friendly alternative to road transport. By encouraging a shift from private vehicles to metro travel, the initiatives are projected to help lower carbon emissions, improve air quality, and make city travel safer and more efficient for millions.
Pune Metro Gets Additional Support
In Pune, the add-on funding will complement the EIB’s previous investment of Rs 6,152 crores, which supported the construction of two metro lines spanning 33.2 kilometres, 30 stations, and 102 modern metro cars. Since its launch in March 2022, the Pune Metro has carried more than 10 crore passengers, providing a safe, sustainable, and comfortable commuting option—particularly benefiting women and young professionals.
Nagpur Metro to Cut Emissions by 22%
In Nagpur, the new metro expansion is projected to reduce the city’s transport-related carbon emissions by 22 per cent once fully operational. By 2041, daily ridership is expected to reach nearly 1.9 lakh passengers, marking a 75 per cent increase from current figures. The metro network will more than double in length, improving accessibility across the city and enhancing last-mile connectivity for residents.
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 demonstrate how European financing can make a tangible difference in daily lives while supporting India's green transition and climate goals."
Part of the EU's Global Gateway Strategy
The projects are part of the EU's Global Gateway strategy, which prioritises sustainable transport as a catalyst for economic growth, climate action, and improved quality of urban life.
With this new funding, EIB's total support for India's transport sector has crossed €3.6 billion, making India its largest transport partner outside Europe. The bank has been active in India since 1993, supporting more than 100 projects across transport, energy, and small business sectors, with total investments exceeding €5.6 billion.
The EIB Global aims to enhance international partnerships and mobilise investments worth €100 billion by 2027 under the EU's Global Gateway initiative. These ongoing partnerships highlight the growing collaboration between Europe and India to promote sustainable infrastructure, green energy, and resilient urban development, paving the way for smarter, cleaner cities of the future.
