NEW DELHI: Within three months after Japan was hit by a devastating tsunami and a nuclear disaster, the country shows the way how to keep its commitments. On Thursday, Japan International Cooperation Agency (JICA) signed an agreement with India to provide Rs 7,361 crore as long-term loan at a low interest rate for 2010-11. Though the agency had planned to sign the agreement in end-March, it was delayed due to the natural calamity back home.
"It took us little time to recover, but now we're ready to carry on with our assistance. Out of the total target of Rs 12,000-crore soft loan, India has the maximum share," said JICA's India representative, Yuichiro Sano.
The six projects, which have been approved for JICA's soft loan, include Bangalore Metro Rail Project (II), high-voltage distribution system venture in Andhra Pradesh, modernization of transmission system in Madhya Pradesh besides development of new and renewable energy projects in the country.
"We're interested to provide loan for more urban infrastructure projects, particularly related to the transport. There are proposals for assistance for the Kolkata Metro. We would like to support the Metro network in Chennai as well," he added.
Sino said JICA has received a proposal for providing a loan to the tune of Rs 1,000 crore for the Chennai Outer Ring Road. The JICA representative in New Delhi maintained that the agency is taking more interest in providing soft loan for thermal power projects since India's energy needs are higher.
source-http://timesofindia.indiatimes.com/business/india-business/JICA-to-lend-Rs-74Kcr-at-low-interest-for-infra-projects/articleshow/8883443.cms
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