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Japan approves Rs 7,074-cr loan package for projects in India
New Delhi, March 11, 2008
| Japan has approved a package of about Rs
7,074 crore in the form of soft loan assistance for
projects in the areas of power, transportation, water
supply and environment in India.
Japan has already committed Rs 1,345 crore loan package
last August to India.
With the fresh assistance, the total soft loan to the
country this financial year is Rs 8582 crore, the Japan
Embassy said in a release on Monday. |
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Japanese Ambassador to India Hideaki Domichi and India's
Finance Ministry Joint Secretary Kumar Sanjay Krishna
exchanged notes to formalise the agreement to this effect in
New Delhi on Monday.
These concessional loans will be made available through the
Japan Bank for International Cooperation, generally at 1.2
percent per annum, and will have the repayment period of 30
years, including the grace period of 10 years.
The package covers seven large-scale projects, including Delhi
Mass Rapid Transport System Project (about Rs 2,864 crore),
Haryana Transmission System Project (about Rs 830 crore),
Uttar Pradesh Participatory Forest Management and Poverty
Alleviation Project (about Rs 530 crore), Tamil Nadu Urban
Infrastructure project (about Rs 339 crore) and Kolkata
East-West Metro Project (about Rs 255 crore).
The Embassy said that Phase-II of the Delhi Metro Project (DMP)
would continue to receive financial assistance from Japan.
Following the successful DMP, the Kolkata Metro Project would
also receive the assistance in this package, it added.
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