Japan’s development loans to India top Rs2,13,601 crore
29 Mar 2012
Japan has committed Rs8,303.01 crore (Yen134.288 billion) for two projects in India under the first batch of FY'11 Japan International Cooperation Agency (JICA) overseas development assistance (ODA) loan package, taking the total commitment of ODA from Japan to this country to Rs2,13,601.44 crore (Yen 3454.657 billion).
The two countries exchanged notes for the first batch of FY'11 JICA ODA loan package in New Delhi today.
Prabodh Saxena, joint secretary in the department of economic affairs and the Japanese ambassador to India Akitaka Saiki exchanged the notes
The two projects covered by the ODA loans include Delhi Mass Rapid Transport System Project Phase III (Rs7909.10 crore) and the West Bengal forest and biodiversity conservation project (forestry sector) Rs393.91 crore.
India and Japan have had a long and fruitful history of bilateral development cooperation since 1958. In the last few years, relations between India and Japan have steadily progressed based on India-Japan Global Partnership.
The visits of the Indian prime minister to Japan in 2006, 2008 and 2010 and the visit of Japanese prime minister to India in 2007, 2009 and 2011 have further strengthened the India-Japan Global Partnership by adding greater substance to the bilateral relations.
