|Japan International Cooperation Agency (JICA) has signed Japanese ODA Loan agreement with the Government of India to provide soft loans up to a total of about Rs 11,400 crore. The loans will be used for construction of Dedicated Freight Corridor (DFC) for the development of Delhi-Mumbai Industrial Corridor (DMIC), Metro project in Chennai and Piped Water Project in Purlia district in West Bengal.|
The loan carrying a concessional rate of 0.20% is to be repaid over a period of 40 years with 10 years grace period. The project is to be executed by Ministry of Railways and Dedicated Freight Corridor Corporation of India Limited.
For the Chennai project the loan carries rate of 1.40% and is to be repaid in 30 years with grace period of 10 years. The executing agency is Chennai Metro Rail Limited.
Third project for which loan to the tune of 14,225 million yen will be extended, is the Piped Water Supply Project in Purulia district in West Bengal. The loan carrying rate of 1.40% is to be repaid in 30 years with grace period of 10 years. The project is to be executed by Public Health Engineering Department, Government of West Bengal.