Japan commits $1.548 bn in ODA loan for nine Indian projects
21 Feb 2024
The Japanese government has extended 232.21 billion ($1.548 billion) in long-term loans to India, under its Official Development Assistance programme, for nine projects in various sectors.
As per the notes exchanged between Vikas Sheel, additional secretary in the finance ministry and Japanese ambassador Suzuki Hiroshi, the ODA loan assistance will be extended to:
· Construction of the Dhubri-Phulbari bridge (34.54 billion yen) under Phase 3 of the North East Road Network Connectivity Improvement Project (second tranche);
· Construction of the Phulbari-Goeragre section of NH 127B (15.56 billion yen) under Phase 7 of the North East Road Network Connectivity Improvement Project;
· Promotion of start-ups and innovation in Telangana (23.7 billion yen);
· Phase 2 construction of Chennai Peripheral Ring Road (49.85 billion yen);
· First tranche of the project for promoting sustainable horticulture in Haryana (16.21 billion yen);
· Project for climate change response and enhancement of ecosystem in Rajasthan (26.13 billion yen);
· Project for the setting up of a medical college hospital at Nagaland Institute of Medical Sciences and Research, Kohima (10 billion yen);
· Project for improvement of urban water supply system in Uttarakhand (16.21 billion yen); and
· Phase 1 ( fifth tranche) of the construction of the dedicated freight corridor project (40 billion yen).
The road network connectivity projects will improve infrastructure development in India’s North East region, while the Chennai peripheral ring road project is expected to decongest traffic and strengthen connectivity to southern part of the state.
Setting up of a hostel at the Medial College in Nagaland will help develop tertiary level medical service delivery, contributing towards universal health coverage.
The Telangana project to discover and develop entrepreneurial skills with focus on women and rural population will support business expansion of MSMEs.
The Haryana project to promote sustainable horticulture will improve farmer's income by promoting crop diversification and also help in infrastructure development.
Rajasthan’s forestry project will enhance ecosystem services through afforestation, forest and biodiversity conservation.
The project for improvement of urban water supply system in the mountainous state of Uttarakhand aims to provide stable water supply to urban towns.
The Dedicated Freight Corridor project will help in the modernisation of intermodal logistics system enabling increased freight traffic.
Japan has a long and fruitful history of development cooperation with India and economic partnership has been a key pillar of India-Japan relations since 1958.
.webp)
