New Delhi, Oct 15 (SocialNews.XYZ) The European Investment Bank’s development arm, EIB Global, has announced over Rs 5,200 crore worth of funds in three new financing packages to support clean water, sustainable urban mobility and climate action in India.
Among the investments, EIB Global will provide Rs 3,040 crore loan for metro projects for the Nagpur Metro extension and for the Pune Metro, targeting reduced congestion and pollution while enhancing green mobility in both cities.
"The full commissioning in Nagpur is projected to cut transport sector CO2 emissions by 22 per cent, while Pune’s network continues expanding access for over 100 million passengers to safe, green mobility," EIB Global said in the release.
Further, a Rs 1,695 crore loan will be extended to expand and modernise water supply and sanitation services in Uttarakhand. The project will benefit around 9 lakh residents, including underserved and poor households, by providing new connections, reliable clean water and sanitation, reduced leakage, and improved monitoring, the release said.
“By supporting state-of-the-art metro systems, modernising vital water infrastructure and leveraging new private capital for climate action, we are helping India build resilient, healthy and connected communities for the future,” said EIB Vice-President Nicola Beer.
EIB Global had, on Tuesday, announced $60 million worth of investment in the India Energy Transition Fund, created to accelerate private capital investment in sustainable infrastructure and support decarbonisation efforts in India.
The expected lifetime impact includes approximately 298 million tonnes of CO2 reduction and the creation of around 38 million job-years for India’s future workforce.
The fund will invest in the Indian energy sector, including renewable energy, energy efficiency, transmission, electric vehicles and circular economy projects, the release said.
Source: IANS
About Gopi
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz