The Government of India has signed a finance pact with European Investment Bank (EIB) for first tranche loan of $283.35m (€250m) for Agra Metro Rail Project in the state of Uttar Pradesh.

Earlier, EIB sanctioned a total loan of $510.02m (€450m) to finance the metro project.

Last December, the initial construction phase of the Agra Metro project was virtually inaugurated by Prime Minister Narendra Modi.

Agra Metro project will feature two corridors, with a total length of 29.4km.