JICA to extend Rs 2,000 crore for Chennai Metro Rail

This assistance will further mitigate the road traffic, traffic accidents and traffic pollution

Japan International Cooperation Agency (JICA) has extended Official Development Assistance Loan (ODA) of 33,321 million Japanese Yen (around Rs 2,000 crore) to the Chennai Metro Rail Ltd. (CMRL) for building of Mass Rapid Transport System.

The ODA loan's conditions are very concessional, i.e. 1.4 per cent and 0.01 per cent interest rate and 30 years of repayment period (including 10 years of grace period).

This assistance from JICA will further mitigate the road traffic, traffic accidents and traffic pollution, and will eventually lead to balanced regional socio-economic development and enhancement of Chennai's atmospheric environmental condition.

With the signing of this loan agreement for