Press Information Bureau

Government of India

Ministry of Finance

28-September-2012 17:57 IST

The Notes were exchanged today between Mr. Prabodh Saxena, Joint Secretary, Department of Economic Affairs, Government of India and Mr. Hajime Hayashi, Charge de’ Affaires ad interim, Embassy of Japan to India. Through this Exchange of Notes Japan committed an amount of Yen 132.645 billion (for the second batch of FY 2011 JICA ODA loan package to fund the following 4 (four) projects :-  

With today’s Exchange of Notes the cumulative commitment of ODA from Japan has reached JPY 3587.302 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.58.82.

DSM/RS/ka

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Official Development Assistance commitment enables four infrastructure and water projects in India under a bilateral loan exchange. Japan committed an Official Development Assistance loan package to India via an Exchange of Notes, allocating funds to four projects: a higher education campus development, transmission system improvement, rural water supply and fluorosis mitigation, and urban water supply improvement; the Exchange increased Japan's cumulative ODA commitments to India and applied a specified exchange rate for rupee conversion.