The Japan International Cooperation Agency (JICA) has come forward to fund the Andhra Pradesh Government’s two ambitious metro rail projects in Vijayawada and Visakhapatnam.
A team from JICA is already touring Vijayawada to get a clear picture of the total expenditure and the requirements.
The state government found the terms and conditions laid by JICA very reasonable hence agreed funds from the Japan agency. The time period of 30-40 years to repay the loan with an Interest Rate of 3 percent is pretty much acceptable.
In the past, ZICA had offered funds to the metro rail projects of Delhi, Bengaluru, Chennai and Kolkata.
