Japan commits Rs 7,084 crore for three infrastructure projects in India

Japan on Tuesday committed Rs 7,084.5 crore to India for three infrastructure projects, including Patna Metro Rail Construction Project and Rajasthan Water Sector Livelihood Improvement Project.

Notes in this regard were exchanged between Rajat Kumar Mishra, Additional Secretary, Department of Economic Affairs and Japan Ambassador to India Suzuki Hiroshi, an official statement said.

Japan would fund Patna Metro Rail Construction Project (I) of JPY 98.612 billion (about Rs 5,509 crore), Project for Forest and Biodiversity Conservation for Climate Change Response in West Bengal of JPY 9.308 billion (about Rs 520 crore) and Rajasthan Water Sector Livelihood Improvement Project (II) of JPY 18.894 billion (about Rs 1,055.53 crore).

Patna Metro Rail Construction Project aims to cope with the increase of traffic demand in the capital city of Bihar by constructing the new metro corridor 1 & 2, thereby contributing to improvement of the urban environment and development of the economy as well as mitigation of climate change, it said.

Project for Forest and Biodiversity Conservation for Climate Change Response in West Bengal aims to mitigate and adapt to climate change, conserve and restore ecosystems by ecosystem based climate change measures, biodiversity conservation and restoration, livelihood improvement activities and institutional strengthening, thereby contributing to sustainable socio-economic development in state, it said.

Rajasthan Water Sector Livelihood Improvement Project aims to improve livelihoods of farmers as well as promote gender mainstreaming in agriculture and irrigation sector in the State, by improving water use efficiency and agriculture productivity, through improvement of existing irrigation facilities, it said.

India and Japan have had a long and fruitful history of bilateral development cooperation since 1958.

In the last few years, the economic cooperation between India and Japan has steadily progressed, it said, adding, this further consolidates and strengthens the Strategic and Global Partnership between India and Japan.