The Notes were exchanged today between Mr. S. Selvakumar, Joint Secretary, Department of Economic Affairs, Government of India and H.E. Mr. Kenji Hiramatsu, Ambassador of Japan to India. The Government of Japan has committed JICA Official Development Assistance loan for an amount of Yen 371.345 billion (=Rs.21590 crore approx. @ Exchange Rate of Re.1 = Yen 1.72.) under FY 2016 loan packages. The ODA loan assistance has been committed to Mumbai Trans Harbour Link Project (JPY 144.795 billion), Dedicated Freight Corridor Project (Procurement of Electric Locomotives) (JPY 108.456 billion), Chennai Metro Project (V) (JPY 33.321 billion), Andhra Pradesh Irrigation and Livelihood Improvement Project (Phase 2) (I) (JPY 21.297 billion), Rajasthan Water Sector Livelihood Improvement Project (I) (JPY 13.725 billion), Odisha Forestry Sector Development Project (Phase 2) (JPY 14.512 billion), Delhi Eastern Peripheral Expressway Intelligent Transport System (ITS) Installation Project (JPY 6.87 billion), Nagaland Forest Management Project (JPY 6.224 billion) and Tamil Nadu Investment Promotion Program (Phase 2) (JPY 22.145 billion).
India and Japan have had a long and fruitful history of bilateral development cooperation since 1958. In the last few years, the economic partnership between India and Japan has steadily progressed. This further consolidates and strengthens the Strategic and Global Partnership between India and Japan.