Japan International Cooperation Agency (JICA) has signed a loan agreement with the Government of India to provide an Official Development Assistance (ODA) loan to MAHSR project and Patna Metro project.
For MAHSR Project:
- Japan International Cooperation Agency (JICA) has signed a loan agreement with the Government of India to provide an Official Development Assistance (ODA) loan of 300 billion Japanese Yen (approx. INR 18,750 Crore) as tranche 4 for the ‘Project for the Construction of Mumbai-Ahmedabad High-Speed Rail (MAHSR).’
- It is the largest amount committed through a single project loan agreement in the history of JICA, across the globe.
- The loan agreement was signed between Mr. Rajat Kumar Mishra, Additional Secretary, Department of Economic Affairs, Ministry of Finance, Government of India and Mr. SAITO Mitsunori, Chief Representative, JICA India.
- JICA has been supporting the MAHSR project by providing ODA loans with the cumulative commitment amount of JPY 650 billion (INR 40,625 crore) since 2017 and by providing technical assistance including feasibility study, basic and detailed design, trainings in Japan, station area development technical cooperation project, and dispatch of Japanese Shinkansen experts to the executing agency of MAHSR project, National High Speed Rail Corporation Limited (NHSRCL).
- The objective of the project is to develop a high-frequency mass transportation system by constructing the High-Speed Rail between Mumbai and Ahmedabad, using Japan’s Shinkansen technology (also known as the “Bullet Train”), thereby enhancing mobility in India and contributing to regional economic development.
Speaking on this occasion, Mr. SAITO Mitsunori, Chief Representative, JICA India said, “The MAHSR project, by introducing Japan’s High Speed Rail technology to India’s first High Speed Rail project is a symbol of the Japan-India collaboration. I am pleased that Japan and India are implementing the project as “one team”, as mentioned by the Honourable Prime Minister of India. Thanks to great efforts made by NHSRCL and our Indian colleagues, we have witnessed great progress in the civil work so far. On the sidelines of signing the loan agreement, we have also just released a new video introducing the MAHSR project and our support. I hope that through this video, our Indian friends will get to know more about this glorious national flagship project and JICA’s role in facilitating it.”
For Patna Metro project:
- The Japan International Cooperation Agency (JICA) has signed a Loan Agreement with the Government of India to provide a Japanese ODA loan amounting to JPY 98,612 million (approximately INR 5,521 crore) for the Patna Metro Rail Construction Project (I).
- The project aims to cope with the increase of traffic demand in Patna by constructing a new metro corridor, thereby contributing towards the improvement of the urban environment and development of the economy as well as mitigation of climate change in the city.
- The loan agreement was signed by Mr. Rajat Kumar Mishra, Additional Secretary, Department of Economic Affairs, Ministry of Finance, Govt. of India and Mr. SAITO Mitsunori, Chief Representative, JICA India office.
- The objective of the project is to reduce emissions and adverse environmental impact by creating a public transport-oriented city. It will also contribute towards the goal of reducing the amount of greenhouse gas emissions in GDP intensity by 2030 to 33-35% compared to 2005, that the Government of India is working on under the “National Determined Contribution (NDC)” goals, based on the Paris Agreement.
- Set to be operated and maintained by the Patna Metro Rail Corporation Limited (PMRCL), the ODA Loan Agreement for the Patna Metro Rail Construction Project (I) reinforces the strong partnership between Japan and India in promoting infrastructure development in the country. Cumulatively, JICA has extended ODA loans of over 1.7 trillion Japanese yen (approximately INR 107,505 Crore) to develop metro rail systems in Chennai, Bengaluru, Kolkata, Delhi, Mumbai and Ahmedabad.
Speaking on this occasion, Mr. SAITO Mitsunori, Chief Representative of JICA India office said, “JICA’s cooperation in the Metro Development in India had expanded in 6 cities, namely Delhi, Chennai, Bengaluru, Kolkata, Mumbai and Ahmedabad and this project in Patna will be the first metro project in what is called tier-2 cities. I am glad to be involved in an important project in the historical city of Patna. Considering the growing population and industries in the city, I am sure this project will improve the life and business in Patna and I hope this will be considered as the best example of a metro project in Tier-2 cities.
- Established, by a specific law, as an incorporated administrative institution under the Government of Japan, the Japan International Cooperation Agency (JICA) aims to contribute to the promotion of international cooperation, as a sole Japanese governmental agency in charge of ODA implementation.
- JICA is the world’s largest bilateral donor agency. JICA works as a bridge between Japan and emerging countries, and provides assistance in forms of loan, grant and technical cooperation so that the emerging countries can strengthen their capabilities.
Source: JICA- Press Release | Image Credit: JICA