New Delhi, 20 February (MTNews): The finance ministry announced on Tuesday that the Japanese government has committed a loan of 232.209 billion yen (about Rs 12,800 crore) for nine projects across various sectors in India.
This includes a Rs 5.53 crore (10 billion Japanese Yen) project for the establishment of a Medical College Hospital at the Nagaland Institute of Medical Sciences and Research in Kohima. Detailing the projects, the Ministry of Finance stated that the initiative in Nagaland aims to enhance tertiary-level medical services, thus contributing to universal health coverage.
The projects also encompass the North East Road Network Connectivity, aimed at improving infrastructure development in India’s northeast region. Additionally, the Chennai peripheral ring road project seeks to alleviate traffic congestion and bolster connections to the southern part of the state.
Furthermore, the projects involve initiatives such as the Promotion of Sustainable Horticulture in Haryana and Climate Change Response and Ecosystem Services Enhancement in Rajasthan.
The agreement for these projects was signed between Vikas Sheel, Additional Secretary of the Department of Economic Affairs, and Suzuki Hiroshi, Ambassador of Japan to India.
India and Japan have enjoyed a long and fruitful history of bilateral development cooperation since 1958. The economic partnership, a cornerstone of India-Japan relations, has steadily progressed in recent years. The exchange of notes for these significant projects will further strengthen the strategic and global partnership between India and Japan.