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Japan commits loan worth 14251 crores

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Japan has been providing support to India both financially and technically when it comes to the development of Infrastructure. It has now committed a loan worth 242.2 billion yen for the various infrastructure projects in India.

Projects supported by Japan

  • Transmission System Strengthening Project in Madhya Pradesh -JPY 15.45 billion
  • Odisha Integrated Sanitation Improvement Project -JPY 25.7 billion
  • Dedicated Freight Corridor Project (Phase 1) -JPY 103.6 billion or Rs 6,170 crore
  • North East Road Network Connectivity Improvement Project- JPY 67.1 billionJapan’s Official Development Loan Assistance to India for an amount of JPY 242.2 billion (Rs. 14,251 crore approx.)
  • Jharkhand Horticulture Intensification by Micro Drip Irrigation Project -JPY 4.65 billion

Flash points

  • The funds will be provided through the Official Development Assistance (ODA) and it will be further extended through the JICA (Japan International Cooperation Agency)
  • The support given under ODA is classified as bilateral aid and multilateral aid
  • Bilateral aid- Given directly to the developing economies
  • Multilateral aid- Given through various International organizations
  • The total aid for India in this year is 242.2 billion yen or 14,251 crores

Points to note

  • Japan Capital- Tokyo
  • Currency- Yen
  • President- Shinzo Abe