Kochi Metro, AFD to ink loan pact.

French foreign development aid agency Agence Francaise de Developpemente (AFD) and Kochi Metro Rail Ltd. will sign an agreement on February 8 for financing the 25-km Kochi metro project . A KMRL board meeting, chaired by Union Urban Development Secretary Sudhir Krishna decided to take the AFD's loan offer of €180 million euros (around Rs.1,500 crore) for the Rs. 5,337-crore metro project. The loan has a 20-year repayment schedule and five-year grace period.

HBL