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Japan commits Rs15,188 cr loan for five projects

Business

 The projects are related to enhancement of transportation capacity of the Delhi Metro, new and renewable energy development, energy conservation by micro, small and medium enterprises (MSMEs), upgradation of power distribution infrastructure in Haryana, and renovation and expansion of water supply facilities in Agra.
This is the largest amount ever signed at a single signing occasion in the history of Japanese ODA. The loan for the projects relating to new and renewable energy development, energy conservation by MSMEs and upgra- dation of power distribution infrastructure in Haryana was pledged by Japanese prime minister during his summit meeting with prime minister Dr. Manmohan Singh early this year.
Under the agreement, the Japanese government has granted a new loan amounting to Rs8,933 crore for enhancing the transportation capacity of Delhi Metro. The objective of the project is to link the existing 190kms radially developed network with additional 116kms belt line including six routes and six intervals which connect Indira Gandhi International Airport and Noida district and construction of a heritage line connecting Central Secretariat, Delhi Gate, Lal Qila and Kashmiri Gate.
The agreement grants a new Rs1,800 crore loan to power producers through the Indian Renewable Energy Development Agency (IREDA) for development of new and renewable energy.
The MSME energy saving project aims to enhance energy efficiency and eliminate power shortage in the country. Under phase- III of the project, an ODA loan of up to Rs1,800 crore has been granted to 2,000 small- and medium-sized enterprises (SMEs) through the Small Industries Development Bank of India for investment.

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