Japan Agrees To Extend 192 Billion Yen Loan (x/@PsuWatch)
New Delhi: India government and Japanese government have inked loan pacts of 191.736 billion Japanese Yen (JPY) for six projects under Japan's Official Development Assistance to India in the field of forest management, water supply, urban transport, aquaculture, biodiversity conservation and investment promotion, the Finance Ministry statement said on Friday.
The six loan agreements were inked by the Government of India and the Japan International Cooperation Agency (JICA) here on Thursday. They include the Tamil Nadu Investment Promotion Programme (Phase 3) with a loan of JPY 36.114 billion, the project for capacity enhancement for effective forest management (JPY 8.280 billion) and the Project for Chennai Seawater Desalination Plant (II)" (JPY 52.556 billion) .The other schemes for which loan has been mobilized are Delhi Mass Rapid Transport System Project .
Tamil Nadu investment project is intended to generate quality employment for the youth by inducing greater investments into the State such as foreign investments in an inclusive and sustainable fashion, encouraging emerging sectors, and also skilling the population in upmarket manufacturing expertise. The Chennai Desalination Plant project will ensure safe and reliable water supply by undertaking construction of a seawater desalination plant and its associated water supply facilities, thus enhancing living standards of the inhabitants including the poor individuals as well as the investment climate in the affected areas in Chennai Metropolitan Area (CMA).
The Punjab biodiversity project will improve ecosystem services and climate change impacts through more trees outside forest, conservation of biodiversity, integrated wetland management, livelihood enhancement and institutional development. Economic cooperation, which is one of the pillars of India-Japan relations, has continued to make steady strides over the past several years. This further strengthens and solidifies the Strategic and Global Partnership between Japan and India, the statement continued.
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