Exchange of Notes & Loan Agreements on Japan’s Official Development Assistance Loan to India

Today, the Notes were exchanged between Dr. C.S. Mohapatra, Additional Secretary, Department of Economic Affairs, Ministry of Finance, Government of India and H.E. Mr. Kenji Hiramatsu, Ambassador of Japan to India on Japanese official development assistance loan. 

These loans include (i) Chennai Metro Project (Phase 2) (I) for JPY 75.519 billion, (ii) Program for Japan-India Cooperative Actions towards Sustainable Development Goals in India for JPY 15.000 billion and (iii) Project for Dairy Development for JPY 14.978 billion.

Now, The Government of Japan has committed JICA Official Development Assistance of total Yen 105.497 billion (Rs.6668.46 crore approx.) for the three projects. 

Similar to the Exchange of Notes, Loan Agreements for the (i) Chennai Metro Project (Phase 2) (I), and (ii) Project for Dairy Development were signed between Dr. C.S. Mohapatra, Additional Secretary, Department of Economic Affairs, Ministry of Finance, Government of India and Mr. Katsuo Matsumoto, Chief Representative, JICA, New Delhi. 

Aim: 

The aim of Chennai Metro Project (Phase 2)(I) is to meet growing traffic demand by building Mass Rapid Transit System, to mitigate worsening road traffic or traffic pollution and eventually lead to balanced regional development and enhancement of metropolitan atmospheric environmental condition in Chennai Metropolitan Area.

The Program for Japan-India Cooperative Actions for Sustainable Development Goals in India aims to contribute to promotion of SDGs in India especially in social development by supporting the efforts by the Government of India. For strengthening policy framework and implementation mechanism, thereby supporting India in achieving SDGs by 2030.