India, Germany Development Bank sign Euro 442.26 mn loan pact

The government of India and the Germany Development Bank — KFW (Kreditanstalt für Wiederaufbau) signed a 442.26 million euro loan pact for the Surat Metro Rail project. The total cost of the project is 1.5 billion euros, of which KfW is financing 442.26 million euros.

The project is being co-financed by French Development Agency, AFD (Agence Francaise de Developpemet). The Agreement with AFD for 250 million euros was signed on January 28, 2021.