Japanese funds ready to help build Indian metro and its stabilize fare rates
Skift Take
Japan’s overseas development aid is available to boost projects in several Indian cities, which may be why Pune, in a rush to be the first to receive such funds, has declared its project “urgent.”
The Pune metro project is likely to get financial assistance from the Japan International Co-operation Agency (JICA), a Government of Japan enterprise.
The Rs 2,593-crore mass transit project in Pune, modelled on theDelhi Metro Rail Corporation, will get contributions from the Centre and will be funded by the Pune Municipal Corporation and the state government.
The official said that 64.536 billion Japanese Yen have been availed so far for metro projects in Indian cities. These funds are released through the Union urban development department.
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