Japan commits Rs14,251 cr in ODA loans to India
31 March 2016
The Japanese government has committed of ¥242.2 billion (about Rs14,251 crore) loan as Official Development Assistance for various projects in the country.
These include a ¥15.45 billion loan to a project for strengthening electricity transmission system in Madhya Pradesh; a ¥25.7 billion loan to Odisha Integrated Sanitation Improvement Project (II), a ¥103.6 billion loan to the Dedicated Freight Corridor Project (Phase 1) (III), a ¥67.1 billion loan to North East Road Network Connectivity Improvement Project (Phase 1) and a ¥4.65 billion loan to Jharkhand Horticulture Intensification project of Micro Drip Irrigation Project).
The Japanese government has committed a total of ¥390 billion in the current financial year, which is the highest amount committed in a year.
India and Japan have had mutually beneficial economic development cooperation since 1958. In the last few years, the economic cooperation between India and Japan has strengthened and grown into strategic partnership.
With general political consensus and popular support for the greater cooperation between Indian and Japan the partnership is poised for a great future, a finance ministry release stated.