News Brief
Transformative Support: Japan's ODA Loan To Drive Innovation And Infrastructure In India, Here's All About It
A National Highway (Representative Image)
The Government of Japan has committed Official Development Assistance (ODA) loans totaling approximately Rs 12,814 crore for nine projects across various sectors in India.
The agreement was formalised through an exchange of notes between Vikas Sheel, Additional Secretary of the Finance Ministry representing India, and Suzuki Hiroshi, the Ambassador of Japan to India, as per a report by The Economic Times.
The projects receiving ODA loan assistance include -
- The North East Road Network Connectivity Improvement Project (Phase 3) (Tranche II): Dhubri-Phulbari bridge
- The North East Road Network Connectivity Improvement Project (Phase 7): NH 127B (Phulbari-Goeragre section)
- The Project for Promoting Start-up and Innovation in Telangana
- The Project for the Construction of Chennai Peripheral Ring Road (Phase 2) and the Project for Promoting Sustainable Horticulture in Haryana (Tranche I)
- The Project for Climate Change Response and Ecosystem Services Enhancement in Rajasthan
- The Project for the Establishment of the Medical College Hospital at Nagaland Institute of Medical Sciences and Research, Kohima
- The Project for the Improvement of Urban Water Supply System in Uttarakhand
- The Dedicated Freight Corridor Project (Phase 1) (Tranche V)
These projects aim to enhance infrastructure development in the North East region, alleviate traffic congestion in Chennai, promote sustainable horticulture in Haryana, enhance ecosystem services in Rajasthan, improve urban water supply in Uttarakhand, and modernise freight logistics through the Dedicated Freight Corridor project.
The Finance Ministry stated that these projects signify the advancing economic partnership between India and Japan, further strengthening their Strategic and Global Partnership.
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