Government signs loan agreement with JICA for Phase I of DFC project

The Japan International Cooperation Agency (JICA) signed an agreement with the Government of India to provide an official development assistance (ODA) loan of Rs 85.53 billion for Phase I of the Dedicated Freight Corridor Project (Western Corridor) on March 27, 2020. The loan has been sanctioned at an annual interest of 0.1 per cent and the repayment period for the loan is 30 years along with a grace period of 10 years. The project aims to cope with the increase in freight transport demand in India and promote comprehensive regional economic development along the freight corridor.