Japan , India : The Government of Japan has committed an Official Development Assistance loan amounting to JPY 232.209 billion( 12,815 Crore Rupees ) for nine (09) projects across various sectors. The exchange of notes 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 Official Development Assistance (ODA) loan assistance has been allocated to the following projects:
1. North East Road Network Connectivity Improvement Project (Phase 3) (Tranche II): Dhubri-Phulbari bridge (JPY 34.54 billion, 1906 Crore Rupees)
2. North East Road Network Connectivity Improvement Project (Phase 7): NH 127B (Phulbari-Goeragre section) (JPY 15.56 billion , 858 Crore Rupees)
3. Project for Promoting Start-up and Innovation in Telangana (JPY 23.7 billion , 1307 Crore Rupees )
4. Project for the Construction of Chennai Peripheral Ring Road (Phase 2) (JPY 49.85 billion , 2750 Crore Rupees)
5. Project for Promoting Sustainable Horticulture in Haryana (Tranche I) (JPY 16.21 billion, 894 Crore Rupees )
6. Project for Climate Change Response and Ecosystem Services Enhancement in Rajasthan (JPY 26.13 billion , 1441 Crore Rupees)
7. Project for the Establishment of the Medical College Hospital at Nagaland Institute of Medical Sciences and Research, Kohima (JPY 10 billion , 551 Crore Rupees)
8. Project for the Improvement of Urban Water Supply System in Uttarakhand (JPY 16.21 billion , 894 Crore Rupees )
9. Dedicated Freight Corridor Project (Phase 1) (Tranche V) (JPY 40 billion , 2207 Crore Rupees )
- The road network connectivity projects seek to enhance infrastructure development in India’s North East region, while the Chennai peripheral ring road project aims to alleviate traffic congestion and bolster connections to the southern part of the state.
- The project in Nagaland aims to elevate tertiary-level medical service delivery by establishing a Medical College Hospital, contributing to universal health coverage.
- A distinctive initiative in Telangana will cultivate entrepreneurial skills, with a focus on women and rural populations, and support the expansion of MSMEs.
- In Haryana, the project will promote sustainable horticulture and enhance farmers’ income by encouraging crop diversification and infrastructure development.
- The forestry project in Rajasthan will enrich ecosystem services through afforestation, forest, and biodiversity conservation.
- In the mountainous state of Uttarakhand, the project aims to ensure a stable water supply to urban towns.
- The fifth tranche of the Dedicated Freight Corridor project will facilitate the construction of a new dedicated freight railway system and modernize the intermodal logistics system to handle increased freight traffic.
India and Japan have enjoyed a longstanding and mutually beneficial history of bilateral development cooperation since 1958. The economic partnership, a cornerstone of India-Japan relations, has steadily advanced in recent years. The exchange of Notes for these significant projects will continue to bolster the Strategic and Global Partnership between India and Japan.