The Union Government is likely to provide finance to Jaipur Metro Rail Corporation (JMRC), for the metro rail project in Rajasthan.

The Union finance secretary, in a public investment board meeting, has recommended the allotment of Rs 630 crore for the Jaipur Metro, Phase-I. A final approval to the proposal will be given in the Union cabinet meeting. Out of the total amount, the government will give Rs 472.5 crore as equity and Rs 157.5 crore as loan.

The Jaipur Metro Rail Corporation seeks financial help from the Central government for the Jaipur Metro corridor-I (Mansarovar to Badi Chaupar), in the form of equity.

Apart from this, the developer will also take Rs 969 crore loan from Asian Development Bank for which both are likely to sign an agreement in September 2013.

The loan will be used to fund development of the underground metro corridor between Chandpole and Badi Chaupar

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