Geopolitics
Purple Patch Japanese Official Development Loan Assistance for India
Just Earth News 02 Apr 2016, 01:20 am Print
Kenji Hiramatsu
New Delhi, Mar 31 (IBNS) Union ministry of finance announced on Thursday that the Japanese government has committed an Official Development Assistance (ODA) loan of JPY 242.2 billion (approx. Rs 14,251 crores at INR 1 = JPY 1.70).
S. Selvakumar, Joint Secretary, Department of Economic Affairs, Government of India and Kenji Hiramatsu, Ambassador of Japan to India represented their respective countries.
The ODA loan assistance will be utilised for various projects: Transmission System Strengthening Project in Madhya Pradesh (JPY 15. 45 Billion); Odisha Integrated Sanitation Improvement Project (II) (JPY 25.7 Billion); Dedicated Freight Corridor Project (Phase 1) (III) (JPY 103.6 Billion); North East Road Network Connectivity Improvement Project (Phase 1) (I) (JPY 67.1 Billion); and Jharkhand Horticulture Intensification by Micro Drip Irrigation Project (JPY 4.65 Billion).
The government of Japan has committed a total of JPY 390 billion in the current financial year, which is the highest amount committed in a year.
Image: Kenji Hiramatsu, Ambassador of Japan to India, and S. Selvakumar, Joint Secretary, Department of Economic Affairs, Government of India signing the notes. /PIB
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