Japan pledges JPY 232.209 billion ODA loan for 9 projects across India

Utkarsh Classes Last Updated 20-02-2024

Japan pledges JPY 232.209 billion ODA loan for 9 projects across India

Agreements and MoU 3 min read

Japan commits over JPY 232 billion for nine projects across India. In this context, notes were exchanged between the two countries on 20 February 2024.

Notes exchanged between Vikas Sheel, Indian Ministry of Finance, and Suzuki Hiroshi, Japanese Ambassador to India.

Areas committed for ODA loan assistance:

Phase 3, Tranche II: Dhubri-Phulbari Bridge (JPY 34.54 billion).
Phase 7: NH 127B (Phulbari-Goeragre section) (JPY 15.56 billion).
Project to promote start-ups and innovation in Telangana (JPY 23.7 billion)
Chennai Peripheral Ring Road (Phase 2) construction (JPY 49.85 billion).
Project for Promoting Sustainable Horticulture in Haryana (tranche I) (JPY 16.21 billion)
Project for Climate Change Response and Ecosystem Service Enhancement in Rajasthan (JPY 26.13 billion)
Project for Medical College Hospital at Nagaland Institute (JPY 10 billion)
Project to Improve Urban Water Supply System in Uttarakhand (JPY 16.21 billion); And
Dedicated Freight Corridor Project (Phase 1, Tranche V) (JPY 40 billion).

Various sectors to benefit from this project:

Road projects improve infrastructure in India's North East region.
The Chennai Peripheral Ring Road project aims to reduce traffic congestion. The connection has to be strengthened in the southern part of the state.
The project will contribute to universal health coverage in Nagaland. It will enhance tertiary medical services with a new hospital.
A unique project in Telangana will focus on women and rural population. It will also help in exploring entrepreneurial skills and support business expansion of MSMEs.
In Haryana, this project will promote sustainable horticulture. It will improve farmers' income by promoting crop diversification and infrastructure development.
Rajasthan forestry project to enhance the ecosystem through afforestation.
In the hill state of Uttarakhand, the project aims to provide a stable water supply to urban towns.
The Fifth tranche of Dedicated Freight Corridor creates a new railway system. It will modernize intermodal logistics systems capable of handling the increase in freight traffic.

India-Japan relations:

India and Japan have enjoyed fruitful bilateral development cooperation since 1958.
Economic partnership has been a key pillar of India-Japan relations which has seen steady progress over the years.
The exchange of notes strengthens strategic global partnership.