The representatives from German-based development bank KFW will visit Kochi today with regard to their third mission in connection with improving the water transport network in the Kochi cluster area. The KFW team shall also visit Vyttila hub along with KMRL representatives.
The German bank is expected to provide a loan of Rs.680 Crore to KMRL, which is the nodal agency for urban transport projects. The Detailed Project Report (DPR) was prepared by the Urban Mass Transport Corporation (UMTC) which has already been submitted to the State government for approval. Once approved, it will be taken to the Union Government.
The KMRL, in association with the Cochin Corporation, the neighboring local bodies and the other stakeholders, will implement the project. The fund will be used for renovation of boat jetties, infrastructure development in the islands and purchase of new boats.