JICA to offer Rs 8,383 cr for Delhi Metro's Phase-III

Japan International Cooperation Agency (JICA) has signed an agreement with the Centre for a loan of Rs 8,383 crore for development of phase III of Delhi Metro.The agreement was signed under the Official Development Assistance of JICA. The loan will help construct Phase III of Delhi Metro under the Delhi Mass Rapid Transport System. This loan is subsequent to another loan of approximately Rs 7,659 crore signed in 2012 for phase III. The loan will be provided at a concessional rate of 1.4 per cent and carries a repayment period of 30 years along with a grace period of 10 years.