Agence Francaise de Development (AFD), the French development agency of the Government of France, has approved a loan of €110 million for the phase-1 of the Bangalore Metro Rail project.
The totally secretive organization called BMRCL has gone ahead taking a 800 crores loan from the French now!
WHy did they need it? Wasnt the loans given by the ADB enough?
Delays cost money and this is a very basic project management truth..and this phase I is actually full of it! So the govt lets them borrow more money for it now!
The same 800 crores if they had raised for commter rail..would have served a bigger croud of people much sooner..unfortunately the cartel has rejected it and thats sounded the doom for this city!