The Ministry of Urban Development stated that the Japan agency has sanctioned the loan amount. ‘The ministry released the amount immediately to DMRC,’ said an IAS officer. There is agreement between Japan International Cooperation Agency and President of India where Japan has extended help and have been agreed to provide loan for the expansion of metro projects in the national capital. But they have also stated that loan amount should not exceed Japanese Yen 12,7917 million.
‘The interest payable by government of India is 1.4 per cent per annum’, said the officer. He further said that a total amount of Rs 19,166.47 crore has been released earlier Japan International Cooperation Agency.
The officer also stated that loan is available on reimbursement basis only and the Delhi metro is required to regularly file reimbursement claims in regard to the expenditure incurred for making payments to agencies.
‘The interest payable by government of India is 1.4 per cent per annum’, said the officer. He further said that a total amount of Rs 19,166.47 crore has been released earlier Japan International Cooperation Agency.
The officer also stated that loan is available on reimbursement basis only and the Delhi metro is required to regularly file reimbursement claims in regard to the expenditure incurred for making payments to agencies.