India and Japan Collaborate on Major Development Loan Agreements
India and Japan have signed loan agreements worth 191.736 billion Japanese yen across six projects, focusing on areas like forest management, water supply, urban transport, and investment. These initiatives include the Tamil Nadu Investment Promotion Program and the Delhi Mass Rapid Transport System Project, alongside others.
- Country:
- India
In a significant move to boost bilateral cooperation, India and Japan have formalized loan agreements amounting to 191.736 billion Japanese yen. These funds will support six crucial projects under Japan's Official Development Assistance to India, the Finance Ministry announced yesterday.
The loans target diverse sectors, including forest management, water supply, urban transport, aquaculture, and biodiversity conservation. Notable among these is the Tamil Nadu Investment Promotion Program (Phase 3), supported by a loan of 36.114 billion yen.
Additional projects include the Delhi Mass Rapid Transport System Project (Phase 4 Additional Corridors), receiving 79.726 billion yen, and the Construction of Chennai Seawater Desalination Plant (II), allocated 52.556 billion yen. These initiatives are set to advance India's infrastructure and environmental conservation efforts.
(With inputs from agencies.)
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