NEW DELHI: The Japanese government has committed a loan of 232.209 billion yen (nearly Rs 12,800 crore) for nine projects related to various sectors in India, finance ministry on Tuesday said.
The package includes project for promoting start-up and innovation in Telangana, project for construction of Chennai peripheral ring road, North East road network connectivity, project for promoting sustainable horticulture in Haryana and project for climate change response and ecosystem services enhancement in Rajasthan.
The road network connectivity projects aim to improve infrastructure development in India’s north-east region, while the Chennai peripheral ring road project aims to alleviate traffic congestion and strengthen connections to the southern part of the state, the finance ministry said in a statement.
“The project in Nagaland will help develop tertiary level medical service delivery by developing a medical college hospital contributing towards universal health coverage. A unique project in Telangana will help discover entrepreneurial skills with focus on women and rural population and support business expansion of MSMEs.”
The agreement was signed between Vikas Sheel, Additional Secretary, Department of Economic Affairs, and Suzuki Hiroshi, Ambassador of Japan to India. The fifth tranche of the dedicated freight corridor project will enable handling of increased freight traffic, it said.