JICA commits loan package of Rs.8632 crore for 7 major projects

New Delhi: Japan today committed an amount of yen 155.549 billion (about Rs 8632 crore) for the second batch of fiscal year 2010 Japan International Cooperation Agency (JICA) Overseas Development Assistance (ODA) loan package to fund seven projects in India.

The notes in this regard were exchanged by Mr Prabodh Saxena, Joint Secretary, Department of Economic Affairs, Government of India and Mr. Akitaka Saiki, Ambassador of Japan to India at a ceremony here today.

The seven projects are: Andhra Pradesh High Voltage Distribution System Project (Rs 1031.74 crore), Madhya Pradesh Transmission System Modernization Project (Rs 1024.36 crore), Micro, Small and Medium Enterprises Energy Saving Project (Phase 2) (Rs 1665 crore), New and Renewable Energy Development Project (Rs 1665 crore), Bangalore Metro Rail Project (II) (Rs 1100.67 crore), Bihar National Highway Improvement Project (Rs 1271.11 crore), Rajasthan Forestry and Biodiversity Project (Phase 2) (Rs 874.06 crore).

With today's Exchange of Notes, the cumulative commitment of ODA from Japan has reached yen 3320.369 billion. India continues to be the highest recipient of ODA from Japan, the release added.