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Construction : Web Exclusive | April 2013 | Source : Construction Update

AFD to decide on lending to Kochi metro project by Dec 2013

By the end of 2013, the board of Agence Française de Développement (AFD, or French Development Agency) may decide on providing loan to the Kochi Metro Rail project.

It is learnt that AFD is concerned about the rehabilitation and resettlement and Environment Impact Assessment of the project. Carbon emission and land filling were other areas of concern.

In September 2013, a team of town planning and rehabilitation and resettlement experts would visit the city to study the social and environment aspects of the project.

AFD, which is a public institution providing development financing, would take a decision on extending financial assistance based on this study.

If provided, the loan will carry a 2 per cent interest rate and a repayment period of 20 years along with a moratorium of nine years.

Recently, Elias George, Managing Director of KMRL held discussion with AFD senior transport expert Xavier Hoang, regional director for South Asia Aude Flogny and project coordinator Gautier Kohler who visited the city.

It may be recalled that KMRL invited an Expression of Interest (EoI) from agencies of international repute for social and environment impact assessment in connection with Kochi Metro.

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