Japanese financial institution agree to fund Rs 7,922 crore to Dehi Metro Phase III

A Japanese financial institution has sanctioned a soft loan of Rs 7,922 crore to Dehi Metro Phase III.

Shinichi Yamanaka, chief representative of the Japan International Cooperation Agency, signed an agreement with Prabodh Saxena, joint secretary at the Department of Economic Affairs of the Ministry of Finance.

The Japanese agency will fund a total of Rs 14,097 crore to build a 103km network in Phase 3. Another agreement will be signed in 2014 for the disbursal of the remaining amount of the loan.