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Business EconomyPosted at: Jan 18 2019 6:30PM


Govt, JICA sign pacts on Japan’s official devp assistance loan to India

New Delhi, Jan 18 (UNI) The Centre and the Japan International Cooperation Agency (JICA) on Friday signed loan agreements for construction of Chennai Peripheral Ring Road and programme for Japan-India Cooperative Actions towards Sustainable Development Goals in India.
The loan agreements were signed by C S Mohapatra, Additional Secretary, Department of Economic Affairs, and Katsuo Matsumoto, Chief Representative, JICA, New Delhi on Japanese Official Development Assistance Loan for the Chennai Peripheral Ring Road project for around Rs 2470 crore and Japan-India Cooperative Actions programme for Rs 950 crore.
The Chennai project, which is under phase 1, aims to meet increasing traffic demands in Chennai metropolitan area by constructing the Chennai Peripheral Ring Road (Section 1) and installing Intelligent Transport Systems, thereby contributing to mitigation of Traffic Congestion and promoting Regional Economic Development.

The Japan-India Cooperative Actions programme aims to contribute to promotion of SDGs in India especially in social development by supporting the efforts by the Union Government to strengthen the policy framework and implementation mechanism, thereby supporting India in achieving SDGs by 2030.

India and Japan have had a long and fruitful history of Bilateral Development Cooperation since 1958. In the last few years, the economic cooperation between India and Japan has steadily progressed. This further consolidates and strengthens the Strategic and Global Partnership between India and Japan.
UNI SW ADG 1829
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