Cabinet approves MoC between India and Japan on urban development

New Delhi [India], June 2 (ANI): Union Cabinet, chaired by Prime Minister Narendra Modi has approved the signing of the Memorandum of Cooperation (MoC) on Sustainable Urban Development between the Ministry of Housing and Urban Affairs and the Ministry of Land, Infrastructure, Transport and Tourism, Government of Japan, in supersession of existing MoU of 2007 on urban development.
Taking note of the implementation strategy, a Joint Working Group (JWG) will be constituted to strategize and implement programmes on cooperation under the framework of the MoC. The Joint Working Group will meet once in a year, alternately in Japan and in India.
"The cooperation under this MoC will commence on the date of its signature and continue for a period of 5 years. Thereafter, it may be renewed automatically for further successive periods of 5 years at a time", as per the official press release.
The MoC will promote strong, deep and long-term bilateral cooperation in the field of Sustainable Urban Development between the two countries.
The MoC is expected to create employment opportunities in the areas of sustainable urban development, including urban planning, smart cities development, affordable housing, (including rental housing) and disaster resilient development.
The objectives of the MoC are to facilitate and strengthen India-Japan technical cooperation in the field of sustainable urban development.
The proposed MoC will enable the exchange of key learnings and best practices in the above-mentioned areas. (ANI)