Japan announces 200 billion yen for DMIC, high speed rail project

Japan Saturday announced 200 billion yen (approx $1.95 bn) in loans for the ambitious Delhi Mumbai Industrial Corridor project and for a high speed rail project during talks between visiting Japanese Prime Minister Shinzo Abe and Prime Minister Manmohan Singh here.

Abe, speaking after the two signed a joint statement, said he has told Manmohan Singh that Japan will give 200 billion yen for extension and for step up loan in "symbolic projects" of Indo-Japan cooperation like the DMIC and high speed rail projects.

On the civil nuclear agreement, Abe, who will be the chief guest at the Republic Day parade Sunday, said both sides have agreed to continue talks for "early conclusion of the agreement".

To promote people to people contacts, Japan also announced short term multiple entry visas for Indians and to promote educational and academic exchanges.

Manmohan Singh, describing Japan as at the "heart of India's Look East policy, said Japan has been a ready partner in India's economic development. He said their negotiations towards an agreement on civil nuclear cooperation have gained momentum and both sides are also in talks for joint production of the amphibious aircraft US-2.

--Indo-Asian News service

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