Japan to lend Rs.14,000 crore for Indian projects

Posted on:01 Apr 2016 14:42:59
Japan to lend Rs.14,000 crore for Indian projects
01 April 2016 Current Affairs: The Government of Japan has committed a loan of JPY 242.2 billion (around Rs.14,251 crore) for various projects across India, including Jharkhand, Odisha, Madhya Pradesh and the North East. The Official Development Assistance is to be deployed for a transmission system strengthening project in Madhya Pradesh, an integrated sanitation improvement project in Odisha, a dedicated freight corridor project, a road network connectivity improvement project in the North East, and a micro drip irrigation project in Jharkhand, according to a government release on Thursday.“The Government of Japan has committed a total of JPY 390 billion in the current financial year which is the highest amount committed in a year.” India and Japan have had mutually beneficial economic development cooperation since 1958. In the last few years, economic cooperation between India and Japan has strengthened and grown into a strategic partnership.

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