French Development Agency, DEA sign credit facility framework agreement for Pune Metro

The Department of Economic Affairs and the French Development Agency on Monday signed a credit facility framework agreement for extending bilateral funding to the tune of Euro 245 million towards the Pune Metro Project.

Maharashtra Metro Rail Corporation Limited (MAHA-METRO), a 50:50 joint venture between the Indian government and the Maharashtra government, is currently executing the Pune Metro Project.

The estimated project cost is Rs 11,420 crore, of which the loan component is Rs 5,831.5 crore.

The loan component is to be funded by the European Investment Bank and the AFD. The current credit facility signing between DEA and AFD France would be to extend bilateral funding to the tune of Euro 245 million to fund the Pune Metro Project, a statement issued from the French side said.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)