<p> Bangalore Metro Rail Corporation Limited (BMRCL), on Tuesday, inked a €110 million project financing agreement with the French Embassy and French Development Agency (AFD) financing Phase I of Namma Metro project.<br /><br /></p>.<p>The agreement was signed between Aude Flogny, Regional Director for South Asia, AFD and N Sivasailam, Managing Director, BMRCL in the presence of S V Ranganath, Chief Secretary, and Eric Lavertu, French General Consul in Bangalore. <br /><br />A senior official from BMRCL said the financing has been earmarked for long-term credit facility agreement between AFD and Government of India, which was signed on February 14, 2013 in New Delhi. <br /><br />The funding will support implementation of Phase I of Namma Metro, in partnership with Government of Karnataka, the Asian Development Bank (ADB) and the Japanese International Cooperation Agency (JICA). <br /><br />Other Indian financial institutions, such as Housing and Urban Development Corporation (HUDCO) and Indian Infrastructure and Finance Company Ltd. (IIFCL) are also contributing to the funding of the project. <br /><br />The first phase, consisting of two lines totalling 42.3 km and 40 stations, was partially commissioned in October 2011. <br /></p>
<p> Bangalore Metro Rail Corporation Limited (BMRCL), on Tuesday, inked a €110 million project financing agreement with the French Embassy and French Development Agency (AFD) financing Phase I of Namma Metro project.<br /><br /></p>.<p>The agreement was signed between Aude Flogny, Regional Director for South Asia, AFD and N Sivasailam, Managing Director, BMRCL in the presence of S V Ranganath, Chief Secretary, and Eric Lavertu, French General Consul in Bangalore. <br /><br />A senior official from BMRCL said the financing has been earmarked for long-term credit facility agreement between AFD and Government of India, which was signed on February 14, 2013 in New Delhi. <br /><br />The funding will support implementation of Phase I of Namma Metro, in partnership with Government of Karnataka, the Asian Development Bank (ADB) and the Japanese International Cooperation Agency (JICA). <br /><br />Other Indian financial institutions, such as Housing and Urban Development Corporation (HUDCO) and Indian Infrastructure and Finance Company Ltd. (IIFCL) are also contributing to the funding of the project. <br /><br />The first phase, consisting of two lines totalling 42.3 km and 40 stations, was partially commissioned in October 2011. <br /></p>
