Japan Commits 232.2 Billion Yen for Nine Development Projects in India

Government of Japan has today committed Official Development Assistance loan of an amount of about 232.2 billion Japanese Yen for nine projects in various sectors in India. Department of Economic Affairs, Additional Secretary Vikas Sheel and Ambassador of Japan to India, Suzuki Hiroshi exchanged notes on the agreement today.

Delineating on the projects, Ministry of Finance said that the road network connectivity projects aim to improve infrastructure development in India’s North East region, while the Chennai peripheral ring road project aims to alleviate traffic congestion and strengthen connections to the southern part of the state. The project in Nagaland will help develop tertiary level medical service delivery by developing a Medical College Hospital contributing towards universal health coverage.

It futher added that the project in Telangana will help discover entrepreneurial skills with focus on women and rural population and support business expansion of MSMEs. In Haryana, the project will promote sustainable horticulture and improve farmer’s income by promoting crop diversification and infrastructure development. The Ministry said that the forestry project in Rajasthan will enhance ecosystem services through afforestation, forest and biodiversity conservation. In the mountainous state of Uttarakhand, the project aims to provide stable water supply to urban towns. The fifth tranche of the Dedicated Freight Corridor project will help in construction of new dedicated freight railway system and bring about modernisation of intermodal logistics system enabling handling of increase freight traffic.