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Japan commits 371 bn yen assistance for infra projs in India

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Japan has committed an “official development assistance” (ODA) of 371(point)345 billion yen (about Rs 21,590 crore) under 2016-2017 for various infrastructure projects, including the dedicated freight corridor, in India.

The notes in this regard were exchanged in New Delhi today between S Selvakumar, Joint Secretary, Department of Economic Affairs; and Kenji Hiramatsu, Ambassador of Japan to India.

A finance ministry statement issued in New Delhi today said the total commitment of Japan International Cooperation Agency ODA during two financial years 2015-16 and 2016-17 is 761.40 billion yen, which is 43.50 per cent of the total target for five years.

The statement said, in the last few years, the economic partnership between India and Japan has steadily progressed, it said, adding, this further consolidates and strengthens the Strategic and Global Partnership between India and Japan.

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