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India, Japan sign Exchange of Notes and Loan Agreements on Japan’s assistance Loan to India

The Program for Japan-India Cooperative Actions towards Sustainable Development Goals in India aims to contribute to promotion of SDGs in India especially in social development by supporting the efforts by the Union Government to strengthen policy framework.

Dec 22, 2018 09:18 IST
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India and Japan on December 21, 2018 signed Exchange of Notes and Loan Agreements on Japan’s Official Development Assistance Loan to India.

The Notes were exchanged between Dr. C.S. Mohapatra, Additional Secretary in Department of Economic Affairs, Union Ministry of Finance and Kenji Hiramatsu, Ambassador of Japan to India on Japanese official development assistance loan for three projects.

These 3 projects are:

(i) Chennai Metro Project (Phase 2) (I) for Japanese Yen (JPY) 75.519 billion
(ii) Program for Japan-India Cooperative Actions towards Sustainable Development Goals in India for JPY 15.000 billion
(iii) Project for Dairy Development for JPY 14.978 billion.

For these three projects, Japan has committed JICA Official Development Assistance of around Rs. 6668.46 crore jointly.

Loan Agreements

Both the sides also signed Loan Agreements for Chennai Metro Project (Phase 2) (I) and Project for Dairy Development.

The agreements were signed between Dr. C.S. Mohapatra, Additional Secretary of the Department of Economic Affairs, Union Ministry of Finance and Katsuo Matsumoto, Chief Representative of JICA, New Delhi.

Chennai Metro Project (Phase 2)(I)

  • The Chennai Metro Project (Phase 2)(I) aims to meet growing traffic demand by building Mass Rapid Transit System.
  • It will mitigate worsening road traffic and traffic pollution.
  • Eventually, it will lead to balanced regional development and enhancement of metropolitan atmospheric environmental condition in Chennai Metropolitan Area.

Japan-India Cooperative Actions (JICA)

The Program for Japan-India Cooperative Actions towards Sustainable Development Goals in India aims to contribute to promotion of SDGs in India especially in social development by supporting the efforts by the Union Government to strengthen policy framework and implementation mechanism to help India achieve SDGs by 2030.

Project for Dairy Development

The Project for Dairy Development aims to increase sales of milk and dairy products by increasing farmers' access to organised market.

It also aims to upgrade dairy processing facilities and marketing infrastructure and enhance the capacity of producers owned institutions, thereby contributing to increase in returns to milk producers in the project area.

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