| Log in

India to get $35B from Japan for infra projects

By PTI
01 September, 2014

India will get USD 35 billion from Japan over the next five years for developmental projects, including building of smart cities and next generation infrastructure as also cleaning of the Ganga, as Premier Shinzo Abe today pledged to partner Prime Minister Narendra Modi’s “ambitious” vision of inclusive development.

The two sides also signed five pacts covering defence exchanges, cooperation in clean energy, roads and highways, healthcare and women while vowing to take their relationship to newer level.

“Prime Minister Abe affirmed a broader and stronger Japanese partnership for Prime Minister Modi’s bold and ambitious vision for accelerating inclusive development in India, particularly by transforming the infrastructure and manufacturing sectors,” said the Tokyo Declaration for Japan-India Special Strategic and Global Partnership.

Abe expressed his intention to realise 3.5 trillion Yen (Rs 2,10,000 crore, USD 35 billion) of public and private investment and financing from Japan, including Overseas Development Assistance (ODA), to India in five years, it said.

The fund will be used to finance appropriate public and private projects of mutual interest including in the areas of next generation infrastructure, connectivity, transport systems, Smart Cities, rejuvenation of the Ganga and other rivers, manufacturing, clean energy, skill development, water security, food processing and agro industry, agricultural cold chain, and rural development.

In this connection, Prime Minister Abe pledged ODA loan of 50 billion yen to India Infrastructure Finance Company Limited (IIFCL) for a public-private partnership infrastructure project in India.

Modi expressed his deep appreciation for Japan’s continuous support for India’s economic development and stated that “no country” other than Japan has done more for modernising India’s infrastructure.


Leave Your Comment
World Bank to provide $1 bn for India solar projects

World Bank to provide $1 bn for India solar projects

PTI 1 year ago
The World Bank on Thursday committed USD 1 billion (about Rs 6,750 crore) to...
Modi and Obama target $500B India-US trade

Modi and Obama target $500B India-US trade

PTI 3 years ago
Targeting a five-fold jump in Indo-US trade to $500 billion, Prime Minister...
India looks at Japan to achieve its disinvestment targets

India looks at Japan to achieve its disinvestment targets

Deepak Kumar Sahu 2 years ago
India is leveraging its strategic partnership and pitching to Japanese investors...
No Comments

India to get $35B from Japan for infra projects

Powered by WordPress.com VIP