New Delhi [India]: The Government of India and the Government of Japan have signed loan agreements worth ¥191.736 billion for six major projects under Japan’s Official Development Assistance (ODA) program. These projects focus on forest management, water supply, urban transport, aquaculture, biodiversity conservation, and investment promotion, according to a release from the Ministry of Finance.
The loan agreements were signed between the Government of India and the Japan International Cooperation Agency (JICA) in New Delhi. The projects include:
- Tamil Nadu Investment Promotion Program (Phase 3) (TNIPP-III) – ¥36.114 billion
- Project for Capacity Enhancement for Effective Forest Management – ¥8.280 billion
- Project for Construction of Chennai Seawater Desalination Plant (II) – ¥52.556 billion
- Delhi Mass Rapid Transport System Project (Phase 4 Additional Corridors) (I) – ¥79.726 billion
- Assam State Aquaculture Promotion and Livelihood Improvement Project – ¥3.580 billion
- Punjab Biodiversity and Natural Resources Conservation Project – ¥11.480 billion
Project Objectives
- Tamil Nadu Investment Promotion Program (TNIPP-III): Aims to create quality employment opportunities by attracting foreign and domestic investments in emerging sectors while training the workforce in advanced manufacturing skills.
- Chennai Desalination Plant Project: Will ensure a safe and reliable water supply by constructing a seawater desalination plant and related infrastructure, enhancing living conditions and the investment environment in the Chennai Metropolitan Area (CMA).
- Forest Management Capacity Enhancement Project: Focuses on strengthening forest policies, improving biodiversity conservation, and addressing climate change through research, training, and pilot projects.
- Delhi Metro Expansion (Phase 4): Aims to expand the mass rapid transit system, promote regional economic growth, and mitigate climate change by reducing traffic congestion and vehicular pollution.
- Assam Aquaculture Promotion: Designed to increase aquaculture production, enhance the fisheries supply chain, and improve livelihoods in rural fishing communities.
- Punjab Biodiversity Project: Seeks to boost ecosystem services, support climate change mitigation, and promote biodiversity conservation and wetland management.
Strengthening India-Japan Ties
India and Japan share a strong economic partnership, with bilateral development cooperation dating back to 1958. Over the years, Japan has played a key role in India’s infrastructure and economic development. These agreements further reinforce the strategic and global partnership between the two nations, fostering sustainable growth and development.