Nod for loan for SilverLine from external agencies
The Hindu
₹33,700-crore loan for 529.45-km semi-high speed rail
The National Institution for Transforming India (NITI Aayog), Department of Expenditure under the Union Finance Ministry, and the Ministry of Railways have accorded Kerala Rail Development Corporation Ltd. (K-rail) the nod for mobilising funds from multilateral and bilateral agencies for the 529.45-km semi-high speed rail ‘SilverLine’ from Kochuveli to Kasaragod. With this, K-rail, the joint venture between the State and Railways for cost-sharing rail projects, can ‘pose’ the loan request for availing itself of ₹33,700 crore as per guidelines of Asian Development Bank (ADB), Asian Infrastructure Investment Bank (AIIB), German Development Bank (KfW) and Japan International Cooperation Agency (JICA). Official sources told The Hindu that all funding agencies, except KfW, had informally confirmed their willingness to provide loan for the SilverLine.
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