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Japan International Cooperation Agency has signed an agreement to provide Official Development Assistance loan of ¥21,297 million (approximately ₹1,200 crore) to Andhra Pradesh.
The loan is for the Water Resources Department and allied departments in Andhra Pradesh covereing Andhra Pradesh Irrigation and Livelihood Improvement Project (Phase 2) (Tranche I).
The ODA loan is concessional at 1.4 per cent interest rate for project activities and 0.01 per cent interest rate for consulting services, and 30 years of repayment period (including 10 years of grace period).
Takema Sakamoto, Chief Representative, JICA India Office and S Selvakumar, Joint Secretary, Department of Economic Affairs, Union Ministry of Finance, signed the agreement in New Delhi.
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