Japanese Agency Extends Record Loan Of Rs 18,750 Crore For Mumbai-Ahmedabad High-Speed Rail

Japan International Cooperation Agency (JICA) has announced that a loan of Rs 18,750 crore will be provided to India as tranche 4 for the construction of Mumbai-Ahmedabad High-Speed Rail (MAHSR).

This official development assistance (ODA) loan marks the largest amount committed through a single project loan agreement in JICA's history.

JICA made the announcement on Wednesday (29 March) after signing the agreement with India.

The MAHSR project's aim is to increase mobility and regional economic development in India by creating a high-frequency mass transportation system: a high-speed rail between Mumbai and Ahmedabad, constructed with Japan's Shinkansen technology, commonly known as the bullet train.

JICA India chief representative Mitsunori sees the MAHSR project as a symbol of Japan-India collaboration.

As per another agreement signed with the Government of India, JICA will provide an ODA loan of 98,612 million yen (Rs 5,509 crore) for the Phase 1 of the Patna Metro Rail project.