Japan commits loans of around Rs 14,250 crore to Indian infra projects

Extending support to India, Japan has committed loans under Official Development Assistance (ODA) worth around Rs 14,251 crore (242.2 billion yen) for five infrastructure development projects in India, including the Dedicated Freight Corridor Project with loan of Rs 6,170 crore (103.6 billion yen). The loans will be extended through Japan International Cooperation Agency (JICA) which provides bilateral aid in the form of Technical Cooperation, Japanese ODA Loans and Grant Aid.

Besides, the projects it also includes Transmission System Strengthening Project in Madhya Pradesh with the loan of around Rs 911 crore (15.45 billion yen), Odisha Integrated Sanitation Improvement Project (II) with a loan of Rs 1515 crore (25.7 billion yen).  Besides, North East Road Network Connectivity Improvement Project will get Rs 3957 crore (67.1 billion yen) and Jharkhand Horticulture Intensification by Micro Drip Irrigation Project will get Rs 274 crore (4.65 billion yen).

For the financial year 2015-16, Japan committed a total of Rs 22, 984 crore (JPY 390 billion) which is the highest amount committed in a year. India and Japan have had mutually beneficial economic development cooperation since 1958.