EIB approves Rs. 3200 crores loan for Bhopal Metro

BHOPAL (Metro Rail News): A loan of Rs 3200 crores has been approved for the Bhopal Metro from European Investment Bank (EIB). The contract will be signed when the international flight resumed. The remaining loan formalities have been completed by the Government of India, Government of Madhya Pradesh, Metro Rail Company and EIB. A senior official of the Metro Rail Company has confirmed that EIB will provide a loan of 400 million euros (Rs 3200 crore)

According to the officials of the Metro Rail Company, if the lockdown had not happened, the agreement would have been signed by now. The EIB gave an in-principle approval in the last week of November. After this, the Government of India, Government of Madhya Pradesh and Madhya Pradesh Metro Rail Co Limited completed the formalities on their behalf.