Rs 1,400 cr AFD loan for Kochi metro likely by Nov

Agence Francaise de - Development (AFD), the French development agency, is likely to make a final decision on providing a loan of Rs 1,400 crore for the Kochi metro rail project in this November.

Discussions with the AFD team have been extremely satisfying, and the loan approval would hopefully be communicated to KMRL before the end of this year, stated Elias George, MD, KMRL.

He also expressed satisfaction regarding the AFD team's willingness to provide technical assistance for preparing a workable action plan for realisation of the integrated transport system. The French delegation is expected to submit their report by October so that their board can take a decision in November, he added.

Further, George also said a nationalised bank had expressed willingness to provide Rs 1,000 crore financial assistance to the project.

The decision on this proposal is likely to be taken in this week.

The AFD team held discussions with the top brass of Kochi metro last week. They also had deliberations on the initiatives taken on the transit- oriented development and the integrated modes of transport for the city.