AFD signed a Project Agreement with KMRL for a Euro 180 million long-term loan for the Kochi Metro Phase-1 Project today at Kochi. The agreement was signed by Mrs. Anne Paugam, Chief Executive Officer of the French Development Agency and Mr. Elias George, Managing Director of Kochi Metro Rail Limited, in the presence of Mr. Aryadan Mohammed, Minister for Power & Railways, Government of Kerala and the French Consul Mr. Philippe Janvier – Kamiyana.
The Credit Facility Agreement between Agence Française de Développement (AFD) and the Department of Economic Affairs (DEA), Ministry of Finance, Government of India for the Kochi Metro project was signed yesterday, 7th February in Delhi. His Excellency Mr. François Richier, Ambassador of France to India also participated in the signing ceremony as a co-signatory to the Credit Facility Agreement. Earlier Mrs. Anne Paugam visited selected locations where work was being undertaken on the Kochi Metro Rail project, including the Vyttila Mobility Hub, where Kochi Metro plans to have multi-modal transport integration. She also took a boat-ride from Fort Kochi to Vyttila, to get a sense of the possibilities of water transport in the Kochi region. Later on, she had discussions with the Managing Director and the Functional Directors of the Company, regarding the progress of the project and the other plans of KMRL for improving transportation systems in the city, particularly the Unified Metropolitan Transport Authority (UMTA) and Transport Oriented Development (TOD).
The agreement between AFD and KMRL consists of a Euro 180 million direct sovereign loan aimed to support KMRL to implement the first metro line in Kochi, between Aluva and Petta with 22 stations and also to strengthen the institutional framework of the Greater Kochi urban transport sector, in order to sustainably integrate all modes of transport, in accordance with the spatial, social and economic development of the city.
From a larger perspective, this signature confirms the willingness of India and France to strengthen their strategic partnership in the urban infrastructure sector. “We are very happy that AFD has come forward to fund and assist us in implementing this dream project of Kerala. Apart from providing funding, AFD will also be assisting us in improving the quality and service of all urban transportation systems in the city. We look forward to implementing this project in close collaboration with AFD, for making the beautiful city of Kochi a better place to live in”, said Mr Elias George, Managing Director of Kochi Metro Rail Limited.
Ms. Aude Flogny – Country Director, Mr. Jean-Yves Grosclaude , Executive Director, Strategy Department AFD ,Mr. Laurent Amar, Deputy Director of Asia Department,Mr. Cheikh Dia, Project Officer (AFD New Delhi) and Mr. Gautier Kohler, Project Coordinator (AFD New Delhi) also were present on the occasion.