Building upon its commitment to aid Make in India project, France is looking to fund the second phase of Bangalore and Kochi Metro projects and Nagpur Metro project, said France’s envoy to India Francois Richier.
Speaking at the event organised at the French embassy in New Delhi on May 27, the French envoy underlined that France was committed to working with India on some very important issues, including enhancing bilateral relations in the field of sustainable development and smart city project.
France’s public financial institution Agence Francaise de Development (AFD) is funding the metro rail projects. As part of its earlier commitment of euro 1 billion, the institution has spent nearly half of the amount funding the metro rail project in Kochi and Bengaluru. A delegation of AFD is on a two-day visit to India to figure out and discuss how the projects that could be funded.
During India’s Prime Minister Narendra Modi’s visit to France in April 2015, France’s President Francois Hollande had extended the line of credit of euro 1 billion for three years to euro 2 billion over the next four-and-half years to support India’s sustainable development projects and smart city project.
France has shown interest in developing several other projects, including a solid waste management plant in Puducherry and sewage plant in Chennai. “The phase 2 of Kochi and Bangalore Metros and phase 1 of Nagpur Metro are in the pipeline and there is a possibility that these projects could be funded by the AFD. However, this is only a part of the total funding required for these projects,” said S. Selvakumar, Joint Secretary, Department of Economic Affairs.
- India Writes Network (www.indiawrites.org) is an emerging think tank and a media-publishing company focused on international affairs & the India Story. A venture of TGII Media Private Limited, a leading media, publishing and consultancy company, IWN has carved a niche for balanced and exhaustive reporting and analysis of international affairs. Eminent personalities, politicians, diplomats, authors, strategy gurus and news-makers have contributed to India Writes Network, as also “India and the World,” a magazine focused on global affairs. The Global Insights India (TGII) is the research arm of India Writes Network. To subscribe to India and the World, write to firstname.lastname@example.org
- China Connect2020.11.28A New Start, A New Journey
- Diplomacy2020.11.26India-Italy Connect: The Road Ahead (WEBINAR VIDEO)
- India and the World2020.11.25Italian envoy calls for rebalancing Europe-China ties, pitches for enhanced defence ties with India
- Diplomacy2020.11.24India eyes closer ties with Bahrain, UAE, and Seychelles