• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest
• The New Manager

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

BIGGEST LOAN RECIPIENT: The Ambassador of Japan to India, Mr Yasukuni Enoki, exchanging notes with the Joint Secretary (Bilateral Cooperation), Ministry of Finance, Mr Kumar Sanjay Krishna, on Japan's ODA assistance for financial year 2006, in the Capital on Friday. — Ramesh Sharma

New Delhi March 30 Japan on Friday agreed to provide soft loans amounting to ¥ 1,84,893 million (Rs 6,916 crore) to India as its official development assistance (ODA) for financial year 2006-07.

An Exchange of Notes to this effect took place here today between Mr Kumar Sanjay Krishna, Joint Secretary (bilateral cooperation), Finance Ministry, and Mr Yasukuni Enoki, Ambassador of Japan to India.

"Japanese attention on India is accelerating year by year. Japan-India relations are entering a golden phase.

Political, economic, government to government track, business to business track and people to people contacts are all gaining momentum," Mr Enoki said.

He highlighted that the soft loan package for financial year 2006-07 represented an 18.93 per cent increase to the ODA of ¥ 1,55,458 (equivalent to Rs 5,910 crore) committed in financial year 2005-06.

The Japanese Ambassador to India said that he had recently attended the Asian Region Ambassadors' meeting and noted that "India and China" were the "hottest" topics at the meeting.

Projects

Mr Enoki expressed hope that all the 11 identified projects for financial year 2005-06 would be implemented smoothly.

The 11 projects include Kerala Water Supply project (II), Delhi Mass Rapid Transport System project (phase-II), Vishakapatnam Port expansion project, Transmission System Modernisation and strengthening project in the Hyderabad Metropolitan Area, Andhra Pradesh Irrigation and Livelihood Improvement project, and Bangalore Distribution Upgradation project.

Mr Enoki also noted that there would be close consultations between Japan and India on both the forthcoming Railway Freight corridor project as well as the Industrial corridor project.

India is the biggest loan recipient from Japan.

At present, 45 projects are being implemented in India with Japanese loan assistance of ¥ 6,78,095 billion (Rs 25,768 crore approximately).

More Stories on : Foreign Relations | Overseas Borrowings

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Japan okays Rs 6,916-cr soft loan package

Copyright © 2007, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line