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Metro raising Rs 3,586 crore for Phase II from ADB and EIB

Published on January 01, 2023
Current Context: For the second phase of the metro project in Nagpur, the Mahametro Corporation has finalized its financial arrangement and secured a loan of Rs. 3,586 crores from the Asian Development Bank (ADB) and the European Investment Bank (EIB).
Metro raising Rs 3,586 crore for Phase II from ADB and EIB
  • The project's initial phase was sponsored by the French AFD and the German KFW, totaling about 630 million Euros.
  • ADB would provide $200 million in USD, while the EIB would provide about 239 million Euros for the project.
  • A total of Rs 15,388 crore would be invested as a result of phases I and II combined. The project’s second phase will cost around Rs. 6,700 crores, of which Rs. 3,100 crores will come from equity contributions from the federal and state governments.
  • Nagpur Metro Phase- II
    • The project's Phase II will encompass a total of 43.8 km by extending the four existing Phase I corridors. By 2026, the second phase will be finished.
    • The 43.8 km long corridor will reach Hingna in the west, Transport Nagar (Kapsi) in the east, Butibori MIDC in the south, and Kanhan in the north.
  • About Asian Development Bank (ADB):
    • President - Masatsugu Asakawa
    • Establishment – 1966
    • Headquarters – Mandaluyong City, Metro Manila, Philippines
    • Members – 68 members


Q.1 MahaMetro will raise Rs 3,586 billion from which of these organizations for Nagpur Metro Phase II?
a. ADB
b. EIB
c. Both of these above
d. Neither of them above
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