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JICA Extends ODA Loan Of Rs 5521 Cr For The Patna Metro Rail Construction
Coping with the increase of traffic demand in Patna; towards the improvement of the urban environment and development of the economy as well as mitigation of climate change
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The Japan International Cooperation Agency (JICA) has signed a Loan Agreement with the Government of India to provide a Japanese ODA loan amounting to JPY 98,612 million (approximately INR 5521 crore) for the Patna Metro Rail Construction Project (I). The project aims to cope with the increase of traffic demand in Patna by constructing a new metro corridor, thereby contributing towards the improvement of the urban environment and development of the economy as well as mitigation of climate change in the city.
The loan agreement was signed by Rajat Kumar Mishra, Additional Secretary, Department of Economic Affairs, Ministry of Finance, Govt. of India and SAITO Mitsunori, Chief Representative, JICA India office.
The objective of the project is to reduce emissions and adverse environmental impact by creating a public transport-oriented city. It will also contribute towards the goal of reducing the amount of greenhouse gas emissions in GDP intensity by 2030 to 33-35% compared to 2005, which the Government of India is working on under the "National Determined Contribution (NDC)" goals, based on the Paris Agreement.
Speaking on this occasion, SAITO Mitsunori, Chief Representative of JICA India office said, "JICA’s cooperation in the Metro Development in India had expanded in 6 cities, namely Delhi, Chennai, Bengaluru, Kolkata, Mumbai and Ahmedabad and this project in Patna will be the first metro project in what is called tier-2 cities. I am glad to be involved in an important project in the historical city of Patna. Considering the growing population and industries in the city, I am sure this project will improve the life and business in Patna and I hope this will be considered the best example of a metro project in Tier-2 cities
Set to be operated and maintained by the Patna Metro Rail Corporation Limited (PMRCL), the ODA Loan Agreement for the Patna Metro Rail Construction Project (I) reinforces the strong partnership between Japan and India in promoting infrastructure development in the country. Cumulatively, JICA has extended ODA loans of over 1.7 trillion Japanese yen (approximately Rs 107,505 Crore) to develop metro rail systems in Chennai, Bengaluru, Kolkata, Delhi, Mumbai and Ahmedabad.