EU Investment Bank to step up project funding in India.

The European Investment Bank (EIB), the financial arm of the 28-member European Union, is planning to step up financing projects in India, officials of the bank said.
Lucknow Metro project

'The bank is in talks with Indian officials regarding several projects, including financing the Lucknow Metro project,' Sunita Lukkhoo, Regional Manager, South Asia at EIB, told visiting Indian journalists.

The Lucknow Metro project, one of the flagship programmes of Uttar Pradesh Chief Minister Akhilesh Yadav, is proposed in two corridors - North-South and East-West.

The 23-km North-South corridor, which would connect Lucknow airport to the city, is being undertaken in the first phase and is estimated to cost over Rs. 7,000 crore.

Lukkhoo did not reveal how much money the bank is planning to lend to the project.

'Another deal in the pipeline is the water supply project of the Madhya Pradesh government. The plan is to co-finance the project with the ADB (Asian Development Bank),' she said.

'Financing the water supply project in Delhi is also on the cards. All these projects are being implemented by the public sector.'


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