Japan Commits JPY 232.209 Billion Official Development Assistance Loan for 9 Key Projects in India

GG News Bureau
New Delhi, 21st Feb. The Government of Japan has committed an Official Development Assistance (ODA) loan amounting to JPY 232.209 billion for nine crucial initiatives across various sectors in a move towards bolstering infrastructure and developmental projects in India.

The exchange of Notes formalizing this commitment took place today between Mr. Vikas Sheel, Additional Secretary of the Department of Economic Affairs, Ministry of Finance, Government of India, and Mr. Suzuki Hiroshi, Ambassador of Japan to India.

The ODA loan assistance encompasses a diverse range of projects, including:

1. The North East Road Network Connectivity Improvement Project (Phase 3) (Tranche II): Dhubri-Phulbari bridge (JPY 34.54 billion)
2. The North East Road Network Connectivity Improvement Project (Phase 7): NH 127B (Phulbari-Goeragre section) (JPY 15.56 billion)
3. The Project for Promoting Start-up and Innovation in Telangana (JPY 23.7 billion)
4. The Project for the Construction of Chennai Peripheral Ring Road (Phase 2) (JPY 49.85 billion)
5. The Project for Promoting Sustainable Horticulture in Haryana (Tranche I) (JPY 16.21 billion)
6. The Project for Climate Change Response and Ecosystem Services Enhancement in Rajasthan (JPY 26.13 billion)
7. The Project for the Establishment of the Medical College Hospital at Nagaland Institute of Medical Sciences and Research, Kohima (JPY 10 billion)
8. The Project for the Improvement of Urban Water Supply System in Uttarakhand (JPY 16.21 billion)
9. The Dedicated Freight Corridor Project (Phase 1) (Tranche V) (JPY 40 billion)

These projects span crucial sectors and regions, aiming to address various developmental challenges and enhance infrastructure across the country. For instance, the road network connectivity projects target infrastructure development in India’s North East, while the Chennai peripheral ring road project aims to alleviate traffic congestion in Tamil Nadu.

Additionally, initiatives in Nagaland and Telangana focus on healthcare and entrepreneurship, respectively, contributing to broader socio-economic development goals.

The exchange of Notes underscores the longstanding and mutually beneficial partnership between India and Japan, dating back to 1958.