Japan has granted a loan which will be directed towards various infrastructural projects being carried out across India.

Namma Metro Purple Line Representative Image
news Transportation Saturday, March 27, 2021 - 14:12

Japan on Friday pledged a loan of 52.03 billion yen (approximately Rs 3,717 crore) for phase two of the Bengaluru Metro Rail project. The funds will be reportedly used for the construction of three lines—2A (20km line from Silk Board – KR Puram), 2B (38km from KR Puram–Kempegowda International Airport terminal) and R6 (22km from Nagawara – Gottigere)—of Namma Metro’s Phase two. The Japanese Official Development Assistance (ODA) loan agreement was signed between CS Mohapatra, additional secretary in the Department of Economic Affairs of the Finance Ministry, and the Japanese Ambassador Satoshi Suzuki.

According to a report in Deccan Herald, the project supported by the Japanese government will see train services of 150, 233 and 125 for each of the routes — 2A, 2B and R6. They are expected to have a daily passenger distance of 3.1 million passenger kilometres, 6.9 million passenger kilometres and 4.7 million passenger kilometres on routes 2A, 2B and R6.

The total grant amount sanctioned by Japan rounds up at around 233 billion yen (approximately Rs 154 billio) for several key infrastructure projects apart from the Bengaluru Metro.

Nearly 4.01 billion yen will be devoted to the improvement of power supply in the Andaman and Nicobar Islands. It is Japan's first-ever official development assistance (ODA) to a project in the Andaman and Nicobar Islands.

The loans included 119.97 billion yen for phase four of the Delhi Metro. Japan has been supporting the Delhi Metro project from its beginning and has cumulatively extended 705,206 million Japanese Yen (approximately Rs 47,000 crore) in ODA loans since 1997.

Reportedly, Japan will give a loan of 11.30 billion yen to the Government of India for phase two of the Himachal Pradesh crop diversification promotion project. The project aims at promoting agricultural productivity and sustainable crop diversification to higher value crops, and thereby improving farmers' income. Another loan of 45.816 billion yen is being given for phase two of Rajasthan rural water supply and fluorosis mitigation project. The project aims at providing sustainable and safe water supply by constructing water treatment plants and related facilities, including a vast distribution network in Jhunjhunu and Barmer districts in Rajasthan.

(With PTI Inputs)

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