New Delhi, Oct 15 (NationPress) The development branch of the European Investment Bank, EIB Global, has unveiled financing packages exceeding Rs 5,200 crore to bolster initiatives focused on clean water, sustainable urban mobility, and climate action throughout India.

Among these investments, EIB Global is set to offer a loan of Rs 3,040 crore aimed at metro projects for the extension of the Nagpur Metro and the Pune Metro, with the goal of alleviating congestion and pollution while promoting green mobility in these cities.

According to the release, "The full commissioning in Nagpur is anticipated to reduce CO2 emissions in the transport sector by 22 percent, while the expanding network in Pune will provide safe, green mobility to over 100 million passengers."

Additionally, a loan of Rs 1,695 crore will be allocated to enhance and modernize water supply and sanitation services in Uttarakhand. This initiative is expected to benefit about 9 lakh residents, including marginalized and low-income households, by delivering new connections, reliable clean water, and improved sanitation systems.

“By investing in advanced metro systems, modernizing critical water infrastructure, and attracting private capital for climate initiatives, we are contributing to building resilient, healthy, and interconnected communities in India for the future,” remarked EIB Vice-President Nicola Beer.

On Tuesday, EIB Global also declared a $60 million investment in the India Energy Transition Fund, designed to accelerate private investment in sustainable infrastructure and support India's decarbonization efforts.

The projected long-term impact includes a reduction of approximately 298 million tonnes of CO2 and the creation of around 38 million job-years for India's future workforce.

This fund will focus on investments in the Indian energy sector, including renewable energy, energy efficiency, transmission, electric vehicles, and circular economy projects.