Kochi: The Germany-based KFW Bank has offered to give 200 million Euros to Kochi to streamline the city traffic system. The representatives of the Bank made the proposal to the Kochi Mayor and other officials during a discussion held on Thursday. The fund could be released in the current fiscal itself if the civic body completes the necessary formalities and conditions of the bank.
Kochi Mayor Tony Chammany told reporters that the proposal by the bank called for developing a public transport system in line with the Kochi Metro Rail Project. The civic body would develop a roadmap for the comprehensive development of the transport system by integrating the city’s surface and water transport systems, Chammany said.
"Further action on the proposal will be taken after a meeting between the corporation and the Kochi Metro Rail Limited (KMRL), which is also the nodal agency for the implementation of Unified Metropolitan Transport Authority (UTMA)’’, he added.
The major conditions put forward by the German Bank to sanction the loan include preparation of a project proposal with a focus on sustainable development of the city and conduct of an Environmental Impact Assessment study before the project implementation.
Besides Mayor Chammany, Deputy Mayor B.Bhadra, KMRL Managing Director Elias George, K.Usha Rao, senior sector specialist, energy and transport KFW Bank, Balakrishnan Elangovan, Senior Programme Manager, CDIA were among those who attended the meeting.
