India, Japan sign loan agreements worth Yen 191.736 bn for 6 projects

New Delhi [India], March 28 (ANI): Government of India and the Government of Japan yesterday signed loan agreements worth Yen 191.736 billion for six projects under Japan's Official Development Assistance (ODA) to India in the sectors of forest management, water supply, urban transport, aquaculture, biodiversity conservation, and investment promotion, a Ministry of Finance release said.
The six loan agreements were signed between the Government of India and the Japan International Cooperation Agency (JICA) at New Delhi includes "Tamil Nadu Investment Promotion Program (Phase 3) (TNIPP-III)" (Yen 36.114 billion), "Project for Capacity Enhancement for Effective Forest Management (Yen 8.280 billion), Project for Construction of Chennai Seawater Desalination Plant (II)" (Yen 52.556 billion), "Delhi Mass Rapid Transport System Project (Phase 4 Additional Corridors) (I)" (Yen 79.726 billion), "Assam State Aquaculture Promotion and Livelihood Improvement Project" (Yen 3.580 billion) and "Punjab Biodiversity and Natural Resources Conservation Project" (Yen 11.480 billion).
As per the release, TNIPP-III aims to provide quality jobs to the youth by attracting more investments into the State, including foreign investments, inclusively and sustainably, promoting emerging sectors, and training the population in advanced manufacturing skills.
Chennai Desalination Plant project will provide a safe and reliable water supply by constructing a seawater desalination plant and its related water supply facilities, thereby improving the living conditions of residents, including the poor, as well as the investment environment in the concerned areas in the Chennai Metropolitan Area (CMA).
The Project for Capacity Enhancement for Effective Forest Management aims to enhance the capacity of forest personnel to implement forest policies through research and development, pilot project implementation, improvement of training systems, and institutional strengthening in the areas of forest and biodiversity conservation and climate change.
Continuing the assistance from JICA, the Delhi Metro Rail project will expand the mass rapid transportation system, promote regional economic development, and eventually mitigate climate change through relief of traffic congestion and decrease of vehicular pollution.
In Assam, the aquaculture promotion project will increase aquaculture production and improve the rural livelihoods of fisheries stakeholders by promoting aquaculture, supporting the enhancement of the fisheries supply chain, and strengthening the institutional fisheries department.
The biodiversity project in Punjab will enhance ecosystem services and mitigate impacts on climate change through increased trees outside forests, biodiversity conservation, integrated wetland management, livelihood improvement and institutional strengthening.
India and Japan have long and fruitful bilateral development cooperation since 1958. Economic cooperation a key pillar of India-Japan relations has steadily progressed in the last few years. The release said that this further consolidates and strengthens the strategic and global partnership between India and Japan. (ANI)