After a delay of almost two years, the state has finally written to the Centre to request the Japan International Cooperation Agency (JICA) to release the fourth tranche of the loan for the project. JICA has been funding almost 60% of the Metro 3 project cost. The additional funds from the lending agency are expected to roll in by December, said the official.
The protocol is the state must first approve the cost escalation proposal and convey its decision to the Union ministry of housing and urban affairs. Once the Centre clears it, JICA disburses the loan.
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