Signing of Japanese ODA Loan Agreement with India: Metro construction in Mumbai to enhance economic activity and mitigate climate change through traffic congestion relief

［Goal 11］ Sustainable Cities and Communities
SDGs
［Goal 13］ Climate Action
SDGs

2024.07.05

On July 5th, the Japan International Cooperation Agency (JICA) signed a loan agreement with the Government of the Republic of India in Delhi to provide a Japanese ODA loan of up to 84,261 million yen for the Mumbai Metro Line 3 Project (V).

The objective of the project is to cope with the increase in traffic demand in Mumbai by expanding the mass rapid transportation system, thereby promoting regional economic development and improving urban environment, through mitigation of traffic jams and decrease of pollution caused by increasing motor vehicles. The Project will contribute to the achievement of SDGs Goals 8 (Decent work and economic growth), 9 (Industry, innovation and infrastructure), 11 (Sustainable cities and communities), and 13 (Climate action).

signing ceremony

signing ceremony

Details for the loan are provided below.

1. Terms and Amount of Loan

Project title Amount
(million yen)		 Annual interest rate (%) Repayment
period
(years)		 Grace
period
(years)		 Procurement
Project Consulting services
Mumbai Metro Line 3 Project (V) 84,261 1.80 0.20 30 10 General untied

2. Executing Agency

Mumbai Metro Rail Corporation Limited
URL: https://mmrcl.com/en

3. Planned Implementation Schedule

  • 1 . Completion of project: January 2025 – when all facilities have commenced functioning.
  • 2 . Issuing of letters of invitation for consulting services (including construction supervision): already hired.
  • 3 . Tender announcement of initial procurement package for international competitive bidding on project construction: already contracted.

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