The Notes were exchanged today between Mr. S. Selvakumar, Joint Secretary, Department of Economic Affairs, Government of India and Mr. Takeshi Yagi, Ambassador of Japan to India. Through this Exchange of Notes, Japan has committed JICA ODA loan for an amount of Yen 21.787 billion (Rs.1165 crore approx. at Exchange Rate of : Re.1=Yen 1.87) for the Odisha Transmission System Improvement Project.

 India and Japan have had a long and fruitful history of bilateral development cooperation since 1958. In the last few years, the economic partnership between India and Japan has steadily progressed. This further consolidates and strengthens the Strategic and Global Partnership between India and Japan

Official development assistance reinforces bilateral infrastructure cooperation, enabling transmission system upgrades under a JICA loan commitment. Japan committed an Official Development Assistance (ODA) loan through JICA for the Odisha Transmission System Improvement Project by Exchange of Notes between the Government of India and the Japanese Ambassador, specifying Yen 21.787 billion (approximately Rs.1165 crore) to finance transmission infrastructure upgrades and reflecting continued bilateral development cooperation and strategic partnership.