Japan will give development assistance loan worth Rs 5,479 crore to India for Chennai and Ahmedabad Metro projects, the Finance Ministry said on Sunday (29 November). Both countries have signed agreements in this regard.
"The latest initiative is the agreement signed between the governments of India and Japan for an official development assistance loan of an amount of JPY 19.981 billion (around Rs.1,069 crore) for the Chennai Metro Rail Project (IV) and JPY 82.434 billion (around Rs.4,410 crore) for the Ahmedabad Metro Project," the India's finance ministry said in a statement.
Noting India attaches highest importance to infrastructure projects, it said: "Within urban infrastructure, provision of metro rail gains more importance because of its environment friendly nature. It reduces the traffic congestion in the cities where the traffic is over flowing and also reduces greenhouse gas emission."
India and Japan have had mutually beneficial economic development cooperation since 1958. In the last few years, the economic cooperation between India and Japan has strengthened and grown into strategic partnership. With overall consensus and popular support for the greater cooperation between India and Japan, the partnership is poised for a great future.
This will be a fruitful beginning for the scheduled visit of Japanese Prime Minister Shinzo Abe in December 2015.
BW Reporters
Haider Ali Khan is an alumnus of IIMC. He holds a degree in English Journalism from the prestigious campus. His passion includes Aviation, Technology, Politics and Sports.
_20241105170732_original_image_37.webp)
_20240923195307_original_image_32.webp)
_20240511161025original_image_14.webp)