India, March 25 -- The Japan International Cooperation Agency (JICA) will pump in Rs.5,500 crore for the proposed Metro 11 corridor, connecting the Gateway of India with Bandra Terminus via Wadala. A loan agreement to this effect was signed in New Delhi on Tuesday by Dr Alok Tiwari, Joint Secretary, Department of Economic Affairs, Union Ministry of Finance and Takeuchi Takuro, Chief Representative of the JICA India office.

"The initiative is expected to promote regional economic development, improve the urban environment, and mitigate climate change by easing traffic congestion and reducing pollution caused by the increasing number of motor vehicles," a statement issued by JICA said. The project is scheduled to be completed by August 203...