The ODA notes exchange will strengthen Strategic and Global Partnership between India and Japan
The Japanese Government has committed Official Development Assistance loan of an amount of JPY232.209 billion for nine projects in various sectors.
The Notes were exchanged on 20 Feb 2024 between Vikas Sheel, Additional Secretary, Department of Economic Affairs, and Suzuki Hiroshi, Ambassador of Japan to India (see pic).
The ODA loan assistance has been committed to:
The North East Road Network Connectivity Improvement Project (Phase 3) (Tranche II): Dhubri-Phulbari bridge (JPY34.54 billion)
The North East Road Network Connectivity Improvement Project (Phase 7): NH 127B (Phulbari-Goeragre section) (JPY15.56 billion)
The Project for Promoting Start-up and Innovation in Telangana (JPY23.7 billion)
The Project for the Construction of Chennai Peripheral Ring Road (Phase 2) (JPY49.85 billion)
The Project for Promoting Sustainable Horticulture in Haryana (Tranche I) (JPY16.21 billion)
The Project for Climate Change Response and ecosystem Services Enhancement in Rajasthan (JPY26.13 billion)
The Project for the Establishment of the Medical College Hospital at Nagaland Institute of Medical Sciences and Research, Kohima (JPY10 billion)
The Project for the Improvement of Urban Water Supply System in Uttarakhand (JPY16.21 billion); and
The Dedicated Freight Corridor Project (Phase 1) (Tranche V) (JPY40 billion).
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.
A unique 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 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.
India and Japan have had a long and fruitful history of bilateral development cooperation since 1958. Economic partnership, a key pillar of India-Japan relations has steadily progressed in the last few years.
Exchange of Notes for these important projects will further strengthen the Strategic and Global Partnership between India and Japan, the Finance Ministry said. fiinews.com
