JICA provides ODA loan for Bangaluru water project

Japan International Cooperation Agency (JICA) has signed a 30-year ¥45 billion ($414 million) ODA loan agreement with the Indian government for the Bengaluru Water Supply and Sewerage Project (Phase 3). The loan comes with a 10-year grace period. The pricing on the loan is split into three segments,1.3 % interest rate for the sewerage portion, 1.5% for safe water portion, and 0.01% interest rate for consulting service. The funding backs development of a water treatment plant, transmission pipes, distribution reservoirs, sewerage treatment plants and other facilities, as well as consulting services including detailed design work, bidding assistance and construction supervision.