Japan commits loan worth 14251 crores

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 billion
• 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