India to receive Rs 4,417cr soft loans from Japan

Japan has agreed to extend Rs 4,417 crore as soft loans for seven projects in the country including Delhi Metro, Yamuna Action Plan, Simhadri and Bakreswar Thermal Power stations.

The other projects that would get the Japanese official development assistance (ODA) loans totalling 1,11,239 million yen are Ajanta-Ellora Conservation and Tourism Development Project (Phase-II), Punjab Afforestation Project (II) and Rajasthan Forestry and Biodiversity Project. The agreement of the first loan from Japan after lifting of the economic sanctions, imposed on India after it conducted nuclear tests in May 1998, was signed by Japanese ambassador Akira Hayashi and additional secretary in finance ministry Adarsh Kishore.

According to the loan package, among others, Japan would provide 34,012 million yen for Delhi’s MRTS . Japan would extend 13,333 million yen for second phase of Yamuna Action Plan Project covering Delhi, Haryana and Uttar Pradesh.