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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ODA loan commitment to India funds multiple infrastructure and water projects, expanding bilateral development cooperation and cumulative Japanese ODA. Japan committed an Official Development Assistance (ODA) loan of Yen 132.645 billion to India by Exchange of Notes, financing four projects-IIT Hyderabad campus development, Tamil Nadu transmission system improvement, Rajasthan rural water supply and fluorosis mitigation (Nagaur), and Delhi water supply improvement-totaling Rs. 7,802.17 crore, and raising Japan's cumulative ODA commitments to JPY 3,587.302 billion; exchange rate noted as JPY 100 = Rs.58.82.