Monorail project to be funded by Japanese firm
Japanese International Cooperation Agency (JICA) will be financially supporting the monorail project in Delhi, confirmed Mahendra Pal Singh, additional chief development specialist, JICA. The Delhi government’s approval on the project report is awaited.
Over a period of 14 years, JICA has so far invested 502,644 million yen in the Delhi Metro. Pledged by the Prime Minister of Japan on January 25, 2014, for Phase 3, the next instalment is 148,887 million yen lent at an interest rate of 1.4 per cent per annum with a repayment period of 30 years.
Singh added that monorail may make Delhi Metro be financially sustainable. The project is expected to improve commuter-ship and add to the bottom line of Delhi Metro.
Source: Indian Express
Delhi Government, Delhi Metro, Delhi Metro Rail Corporation, delhi monorail project, Delhi News, Japanese International Cooperation Agency, JICA
