Japan International Cooperation Agency (JICA) has signed an agreement to provide Rs 5,500 loan to India for the Mumbai-Ahmedabad bullet train project as the first tranche of its official development assistance (ODA), ANI has reported. JICA also signed another agreement related to the Kolkata Metro project assuring a loan of Rs 1,600 crore.
The Mumbai Ahmedabad High Speed Rail (MAHSR), popularly known as bullet train project is one of the keystones of cooperation between India and Japan in the domain of transport, skill development and technology transfer.
"India has witnessed strong economic growth in recent years, and with this growth has come a sharp rise in the volume of passengers and goods being transported in the country. Both Maharashtra and Gujarat states have been the nation's growth drivers, and MAHSR is expected to further support such economic pulse as had the Shinkansen done for Japan. With this project, we aim to simplify mobility, ease connectivity and enhance regional economic development with a safe and reliable inter-city transport system," Chief Representative of JICA India, Katsuo Matsumoto told ANI.
On behalf of India, Additional Secretary in the Department of Economic Affairs C S Mohapatra signed the agreement.
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