Centre inks pact with JICA for Chennai Metro

The ODA loan’s conditions were very concessional with an interest rate of 1.4 per cent and 0.01 per cent and 30 years of repayment period (including ten years of grace period). 

This assistance from JICA would further mitigate the road traffic, traffic accidents and traffic pollution, and would eventually lead to balanced regional socio-economic development and enhancement of Chennai’s atmospheric environmental condition, a JICA release here said. 

India was JICA’s largest partner in the world. With the signing of this loan agreement for Chennai Metro Rail Project, the cumulative loan amount provided by JICA for metro projects in India, including New Delhi, Bengaluru, Kolkata, Mumbai and Ahmedabad, exceeds 2.6 trillion Japanese Yen (about Rs 1.5 trillion).