The European Investment Bank and the Government of India signed a loan agreement worth Rs 26.77 billion (€300 million) for the Pune metro rail project Phase I and the Kanpur metro rail project Phase I on May 7, 2021. The Pune metro project involves the development of a 31.25 km long metro rail network in Maharashtra at an investment of Rs 114.2 billion. Meanwhile, the Kanpur metro project entails the development of a 33 km long metro rail system in the city of Uttar Pradesh at an investment of Rs 110.76 billion.
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