Japanese soft loans for Metro's phase IV

Despite skepticism in the Indian quarters, the Japanese government has given an in-principle nod to extend soft loans for the expansion of Metro under phase IV. Subhendu Ray reports.

Despite skepticism in the Indian quarters, the Japanese government has given an in-principle nod to extend soft loans for the expansion of Metro under phase IV.

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During an interaction with HT, Akihiko Tanaka, president of the Japan International Cooperation Agency (JICA), confirmed that the agency had offered soft loans to Delhi Metro's three projects.

"Though ideally the government should finance its mass rapid transit projects or build them under public-private partnership, we will still consider funding Delhi Metro's phase 4, if the Indian government considers this as one of country's top priority projects."

The offer has come as a huge relief to Delhi Metro Rail Corporation (DMRC).

"We may have to depend on JICA only for our phase 4," said DK Saini, director (projects), DMRC.