Japan announced 15000 crore loan for 5 Indian Projects
Japan announced Official Development Assistance (ODA) loan for more than 15000 crore rupees for 5 Indian Projects on 31 March 2014.
Japan announced Official Development Assistance (ODA) loan for more than 15000 crore rupees for 5 Indian Projects on 31 March 2014. This is the largest amount in the history of the ODA loans ever signed in the single occasion.
The loan agreement was signed by Rajesh Khullar, Joint Secretary, Department of Economic Affairs in the Union Finance Ministry and Takeshi Yagi, ambassador of Japan to India.
Indian Projects covered under loan are:
- New and Renewable energy development Project
- Micro, Small and Medium Enterprises Energy Saving Project
- Haryana Distribution System Upgradation Project
- Delhi Mass Rapid Transport System Project
The ODA has allotted 1800 crore rupees loan to the power producers under New and Renewable energy Development Project (Phase 2). The project aims to develop Solar and Wind power. The ongoing project includes a loan of 220 crore rupees for solar power project in Andhra Pradesh and a loan of 1160 crore rupees for wind power projects in Andhra Pradesh, Karnataka and Gujarat.
The ODA loan pledged about 8933 crore rupees to Delhi Mass Rapid Transport System Project (phase 3). This will facilitate in expansion of Delhi metro apart from improving transportation services. The project on completion will result in the extended length of 329.4 Km.
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