Press Information Bureau
Government of India
Ministry of Finance

29-March-2012 17:45 IST

Japan’s Official Development Loan Assistance to India for FY 2011 JICA Loan Package

 

The signing ceremony for exchange of notes for the first batch of FY 2011 JICA ODA loan package between India and Japan took place, here today. The Notes were exchanged between Mr. Prabodh Saxena, Joint Secretary, Department of Economic Affairs, Government of India and Mr. Akitaka Saiki, Ambassador of Japan to India. Through this Exchange of Notes Japan committed an amount of Yen 134.288 billion (for the first batch of FY 2011 JICA ODA loan package to fund the following 2 (two) projects :-

 

                        With today’s Exchange of Notes the cumulative commitment of ODA from Japan has reached JPY 3454.657 billion.

                        India and Japan have had a long and fruitful history of bilateral development cooperation since 1958.  In the last few years, relations between India and Japan have steadily progressed based on India – Japan Global Partnership.  The visits of the Indian Prime Minister to Japan in 2006, 2008 and 2010 and the visit of Japanese Prime Minister to India in 2007, 2009 and 2011 have further strengthened the India-Japan Global Partnership by adding greater substance to the bilateral relations based on India-Japan Global Partnership.

Exchange Rate: JPY 100 = Rs.61.83

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SS/GN

Official Development Assistance commitment funds two India projects under a Japan loan package, reinforcing bilateral development cooperation. An exchange of notes effected a formal Official Development Assistance loan commitment from Japan to India under the FY 2011 JICA ODA loan package, allocating funds to two projects: the Delhi Mass Rapid Transport System Project Phase III and the West Bengal Forest and Biodiversity Conservation Project. The press release records this project-specific loan financing, notes the cumulative ODA commitment from Japan to India, and situates the assistance within the framework of ongoing bilateral development cooperation.