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French foreign development aid agency Agence Francaise de Developpemente (AFD) and Kochi Metro Rail Ltd will sign an agreement on February 8 for financing the 25-km Kochi metro project . A KMRL board meeting, chaired by Union Urban Development Secretary Sudhir Krishna, on Monday decided to take the AFD’s loan offer of €180 million euros (around ₹1,500 crore) for the ₹5,337-crore metro project. The loan has a 20-year repayment schedule and five-year grace period.
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