Tokyo to give $35 billion for infrastructure projects

Written by PTI | Updated: Sep 2 2014, 07:04am hrs
India will get $35 billion from Japan over the next five years for developmental projects, including building of smart cities and next-generation infrastructure, as Premier Shinzo Abe on Monday pledged to partner Prime Minister Narendra Modis ambitious vision of inclusive development, reports PTI.

The two sides also signed five pacts covering defence exchanges, cooperation in clean energy, roads and highways, healthcare and womens welfare while vowing to take their relationship to a higher level. Abe expressed his intention to realise 3.5 trillion yen ($35 billion) of public and private investment and financing from Japan, including Overseas Development Assistance, to India in five years.

Abe pledged an ODA loan of 50 billion yen to India Infrastructure Finance Company for a public-private partnership infrastructure project in India.