National Capital Region Planning Board (NCRPB) has begun release of funds for the Noida-Greater Noida Metro Project by disbursing the first loan installment of 406 crore rupees. It will give a fillip to speedy execution of this important metro project. <br/><br/>The 20 year loan, including a moratorium of five years for repayment of loan carries an interest rate of 7 percent per year and an incentive of 0.25 per cent for timely repayment of installments. Ministry of Urban Development in a press release said, NCRPB had earlier sanctioned a loan of 1,587 crore rupees to Noida Metro Rail Corporation (NMRC) for the 29.70 km Noida-Greater Noida Metro Project. <br/><br/>The project is estimated to cost 5,533 crore rupees. The targeted date of completion of this section is April, 2018. Announcing the disbursement of the first installment of loan, B.K.Tripathy, Member-Secretary, NCRPB said, further release of funds to this important section depends on physical and financial progress of the section.