Japan International Cooperation Agency extends Rs 18,750 crore loan for High-Speed Rail Project
According to JICA statement, it is the largest amount committed through a single project loan agreement in the history of JICA across the globe.
Published: 29th March 2023 05:29 PM | Last Updated: 29th March 2023 05:39 PM | A+A A-
FILE: Japanese Prime Minister Shinzo Abe and Indian Prime Minister Narendra Modi during the ground breaking ceremony for high speed rail project in Ahmadabad (Photo | AP)
NEW DELHI: Japan International Cooperation Agency (JICA) on Wednesday said it has signed an agreement with India to provide an Official Development Assistance (ODA) loan of Rs 18,750 crore as tranche 4 for the construction of Mumbai-Ahmedabad High-Speed Rail (MAHSR).
According to JICA statement, it is the largest amount committed through a single project loan agreement in the history of JICA across the globe.
The statement said JICA has been supporting the MAHSR project by providing ODA loans with the cumulative commitment amount of Rs 40,625 crore since 2017 and by providing technical assistance, including feasibility study, basic and detailed design, trainings in Japan, and dispatch of Japanese Shinkansen experts to the executing agency of MAHSR project, National High-Speed Rail Corporation Limited (NHSRCL).
The objective of the project is to develop a high-frequency mass transportation system by constructing the high-speed rail between Mumbai and Ahmedabad, using Japan's Shinkansen technology (also known as the bullet train), thereby enhancing mobility in India and contributing to regional economic development.
Speaking on this occasion, JICA India chief representative Saito Mitsunori said the MAHSR project is a symbol of the Japan-India collaboration.
