For over 18 years, JICA, the Japanese government’s lending agency, has helped build the network of Delhi Metro Rail Corporation (DMRC), India’s largest Mass Rapid Transit System (MRTS) through concessional loans worth JPY 652 billion (Rs 38,300 crore). However, with the agency now pressing for step loans to continue funding the next phase of DMRC (meaning, compulsory purchase of a part of the project from the Japanese), a condition not acceptable to the government, JICA’s lending association with DMRC is becoming increasingly doubtful. And this comes at a time DMRC is going for major network expansion in the National Capital Region apart from building metros in multiple other cities.

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