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9th August 2016 Current Affairs Questions and Answers

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Germany’s KfW to give 500 million Euro loan to Nagpur Metro

German Government’s Development Bank KfW will provide a loan assistance of EUR 500 million (about Rs.3,750 cr) for the modern and sustainable metro system for Nagpur city being executed by Nagpur Metro Rail Corporation Limited (NMRCL). An agreement in this regard was signed today in New Delhi by the Department of Economic Affairs and KfW. Shri S.Selvaraj, Joint Secretary, Department of Economic Affairs and Shri Roland Siller, Director General of KfW. 
The loan period is 20 years with a moratorium of five years and disbursal will be based on the progress of the project over three years.  Costing Rs.8,680 cr (EUR 1,240 million), Nagpur Metro is the first metro to be financed under the Indo German partnership for clean, socially inclusive and climate friendly mobility for people in cities.  German Ambassador Dr.Martin Ney, OSD (Urban Transport) in the Ministry of Urban Development Shri Mukund Sinha, Managing Director of Nagpur Metro Shri Brijesh Dixit and others were present on the occasion of signing of agreement. 


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