Japan International Cooperation Agency (JICA) today signed an agreement with the Centre for Rs 8,383-crore loan for development of phase III of Delhi Metro.

The agreement was signed under the Official Development Assistance (ODA) of JICA. The loan will help construct phase III of Delhi Metro under Delhi Mass Rapid Transport System.

This loan is subsequent to another loan of approximately Rs 7,659 crore signed in 2012 for phase III.

The fresh agreement was inked by Shinya Ejima, chief representative of JICA in India, and Rajesh Khullar of the Finance Ministry.