Japan extends Rs.10,566 crore loan for 6 projects

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SME Times News Bureau | 01 Apr, 2010
The Japan International Cooperation Agency (JICA) Wednesday signed an agreement with the Indian government, providing loans worth Rs.10,566 crore for six infrastructure projects, including a sanction of Rs.1,648.36 crore for the Delhi Metro for fiscal 2010-11.

"JICA president Sadako Ogata signed an agreement with the Indian government to provide Japanese ODA (official development assistance) loans of up to Rs.10,566 crore (Rs.105.66 billion or 215.611 billion yen) for six projects in India," a JICA statement issued in New Delhi said.

The loans were sanctioned for the Delhi Metro Phase II project, Chennai Metro Project (II), Kolkata East-West Metro Project (II), Delhi-Mumbai Dedicated Freight Corridor Project (Phase 1), Orissa's Rengali Irrigation Project (III) and the Sikkim Biodiversity Conservation and Forest Management Project.

JICA provides technical and financial cooperation for Japanese ODA prgrammes promoting economic and social development in developing countries.

The assistance package to the Delhi Metro Phase II is worth Rs.1,648.36 crore.

The Kolkata East-West Metro Project (Phase II) would receive Rs.1,147 crore while the Chennai Metro Project (II) would get Rs.2,933 crore.

The Delhi-Mumbai Dedicated Freight Corridor Project would get Rs.4,423 crore and the Rengali Irrigation Project (III) will get Rs.151 crore. The loan to Sikkim Biodiversity Conservation and Management Project is Rs.264 crore.