Japan financial assistance worth over Rs.10,500 crore to fund six infrastructure projects in India

Japanese Ambassador Hideaki Domichi (Left) exchanging documents with Joint Secretary, Department of Economic Affairs, Ministry of Finance, Alok Sheel, after signing of the Exchange of Notes for JICA ODDA loan in New Delhi on Monday. Photo: R.V.Moorthy

 Source: The Hindu: March 30,2010

Japan on Monday agreed to give financial assistance worth over Rs.10,500 crore to fund six infrastructure projects in India, which includes various phases of Metro rail projects

in Delhi, Chennai and Kolkata. 

 

With this, the official development assistance (ODA) from Japan will cross Rs.1.55-lakh crore, making India the highest recipient of ODA from Japan. Japan has agreed to give Rs.1,648 crore to construct 121-km. of new rail lines in the National Capital Region under the second phase of the Delhi Metro rail project.

 

Similarly, Japan will give over Rs.2,932 for Chennai Metro project with the objective to cope with the increase of traffic demand in Chennai metropolitan area by extending the mass rapid transportation system. Another Rs.1,146 crore will go towards Calcutta East-West Metro project phase II.

Japan will also give Rs.4,422 crore for the first phase of a dedicated freight corridor project of Indian Railways and over Rs 150 crore for Rengali irrigation project in Orissa.

It will give Rs. 263 crore for Sikkim Biodiversity Conservation and Forest Management Project that will strengthen biodiversity conservation activities, besides improving livelihood for the local people who are dependent on forests.