Japan to provide loans and grant of 233 billion yen for infra projects in India

Japan on Friday finalised loans and a grant totalling around 233 billion yen (USD 2.11 billion) for several key infrastructure projects, including for the fourth phase of the Delhi Metro.

The financial assistance included a grant of 4.01 billion yen for a project for the improvement of power supply in strategically located Andaman and Nicobar Islands, according to the Japanese Embassy here.

It said notes on the loans and the grant were exchanged between CS Mohapatra, additional secretary in the Department of Economic Affairs of the Finance Ministry, and Japanese Ambassador Satoshi Suzuki.

The grant of 4.01 billion yen is Japan’s first ever official development assistance (ODA) to a project in the Andaman and Nicobar islands.