New Delhi: The government of India and the government of Japan have signed loan agreements worth 191.736 billion Japanese Yen (JPY) for six projects under Japan’s Official Development Assistance to India in the sectors of forest management, water supply, urban transport, aquaculture, biodiversity conservation and investment promotion, according to a Finance Ministry statement issued on Friday.
The six loan agreements were signed between the Government of India and the Japan International Cooperation Agency (JICA) here on Thursday.
These include the Tamil Nadu Investment Promotion Program (Phase 3) with a loan of JPY 36.114 billion, the project for Capacity Enhancement for Effective Forest Management (JPY 8.280 billion) and the Project for Construction of Chennai Seawater Desalination Plant (II)” (JPY 52.556 billion),
The other projects for which loans have been secured are Delhi Mass Rapid Transport System Project (Phase 4 Additional Corridors) (JPY 79.726 billion), Assam State Aquaculture Promotion and Livelihood Improvement Project (JPY 3.580 billion) and the Punjab Biodiversity and Natural Resources Conservation Project” (JPY 11.480 billion), the statement explained.
Tamil Nadu investment project aims to provide quality jobs to youths by attracting more investments into the State including foreign investments in an inclusive and sustainable manner, promoting emerging sectors, and also training the population in advanced manufacturing skills. The Chennai Desalination Plant project will provide safe and reliable water supply by carrying out construction of a seawater desalination plant and its related water supply facilities, thereby improving living conditions of the residents including the poor people as well as the investment environment in the concerned areas in Chennai Metropolitan Area (CMA).
The Project for Capacity Enhancement for Effective Forest Management aims to enhance the capacity of forest personnel for implementation of forest policies through research and development, implementation of pilot projects, improvement of training systems and institutional strengthening in the area of forest and biodiversity conservation and climate change.
Continuing the assistance from JICA, Delhi Metro Rail project will be expanding the mass rapid transportation system and promote regional economic development as also eventually mitigating climate change through relief of traffic congestion and decrease of vehicular pollution.
In Assam, the aquaculture promotion project will lead to increase in aquaculture production and improve rural livelihoods of fisheries stakeholders by promoting aquaculture, supporting for enhancing the fisheries supply chain and institutional strengthening of fisheries department.
The biodiversity project in Punjab will enhance ecosystem services and mitigate impacts on climate change through increased trees outside forest, biodiversity conservation, integrated wetland management, livelihood improvement and institutional strengthening.
Economic cooperation, a key pillar of India-Japan relations, has steadily progressed in the last few years. This further consolidates and strengthens the Strategic and Global Partnership between India and Japan, the statement added.
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