New Delhi: The Government of Japan has pledged Official Development Assistance (ODA) loan amounting to approximately Rs 12,814 crore for nine diverse projects across India. The exchange of notes for this agreement took place between Vikas Sheel, Additional Secretary of the Finance Ministry representing India, and Suzuki Hiroshi, Ambassador of Japan to India.
The projects encompass a wide range of sectors, including transportation, healthcare, water supply, and innovation promotion. Notable initiatives include the North East Road Network Connectivity Improvement Project, aimed at enhancing infrastructure in the North East region, and the Chennai Peripheral Ring Road Project, designed to ease traffic congestion in Tamil Nadu.
Furthermore, the assistance extends to projects fostering sustainable development, such as promoting sustainable horticulture in Haryana and climate change response in Rajasthan. Additionally, a focus on healthcare is evident with the establishment of a Medical College Hospital in Nagaland.
A unique emphasis is placed on entrepreneurship and innovation, particularly evident in the Project for Promoting Start-up and Innovation in Telangana, which aims to nurture entrepreneurial skills among women and rural populations.
The assistance package also contributes to the modernization of India’s transportation infrastructure, with support for the Dedicated Freight Corridor Project, facilitating the construction of a dedicated freight railway system.
The Finance Ministry highlighted that this collaboration underscores the robust economic partnership between India and Japan, further strengthening their strategic and global ties.