Japan extends Rs 5,600 cr soft loan to India

New Delhi, March 29 | Updated: Mar 30 2005, 05:30am hrs
Japan on Tuesday agreed to extend a massive package of Official Development Assistance to India, in the form of soft loans totaling about Rs 5,600 crore.

The exchange of notes to formalise the agreement to this effect was concluded in New Delhi. The notes were signed and exchanged by Yasukuni Enoki, ambassador of Japan to India, and SG Mankad, additional secretary, finance ministry, on behalf of their respective governments.

The projects include the Delhi Metro, Bangalore water supply, Ganga Action Plan in Uttar Pradesh and a power plant in Jharkhand.

With this package, India once again emerged as the top recipient of Japans official development assistance (ODA), Hidenao Yanagi, a minister in the Japanese embassy, told mediapersons.

Japan stepped up its assistance to India by 7.57% to Rs 5,600 crore or 15-20% of the global ODA loan assistance of $7 billion, a month ahead of Prime Minister Junichiro Koizumis visit.