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India, Japan sign Rs 18.17-bn loan agreement for development project in WB

The objective of the project is to strengthen the capability to respond to fluctuation in supply and demand of power

ANI  |  New Delhi 

Prime Minister Narendra Modi  with his Japanese  counterpart Shinzo Abe during the joint press statement  in Tokyo on Monday. Photo: PTI
Prime Minister Narendra Modi with his Japanese counterpart Shinzo Abe

India and on Friday signed a loan agreement of Rs 18.17 bn for the construction of the

The deal was signed by the Additional Secretary of the (DEA), C.S. Mohapatra, and Katsuo Matsumoto, chief representative of the International Cooperation Agency (JICA).

The objective of the project is to strengthen the capability to respond to fluctuation in supply and demand of power and to improve the stability of the power supply by constructing pumped storage facilities, thereby contributing to industrial development and improvement of living standards in the state of

India and 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. This further consolidates and strengthens the strategic and global partnership between India and Japan.

First Published: Sat, November 03 2018. 06:25 IST
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