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The Japanese government committed to lending ₹12,814 crore in Official Development Assistance (ODA) for nine infra projects in India. Suzuki Hiroshi, the Japanese ambassador to India, and Vikas Sheel, Additional Secretary of the Finance Ministry, exchanged the agreement's notes on behalf of India.
The nine projects for which the ODA loan assistance has been committed are -- the North East Road Network Connectivity Improvement Project (Phase 3) (Tranche II): Dhubri-Phulbari bridge; the North East Road Network Connectivity Improvement Project (Phase 7): NH 127B (Phulbari-Goeragre section); the Project for Promoting Start-up and Innovation in Telangana; the Project for the Construction of Chennai Peripheral Ring Road (Phase 2); the Project for Promoting Sustainable Horticulture in Haryana (Tranche I); the Project for Climate Change Response and ecosystem Services Enhancement in Rajasthan; the Project for the Establishment of the Medical College Hospital at Nagaland Institute of Medical Sciences and Research, Kohima; the Project for the Improvement of Urban Water Supply System in Uttarakhand; and the Dedicated Freight Corridor Project (Phase 1) (Tranche V).
The road network connectivity projects aim to improve infrastructure development in India's northeast, while the Chennai periphery ring road project intends to relieve traffic congestion and strengthen connections to the state's south. According to Finance, the project in Nagaland will contribute to universal health coverage by developing a Medical College Hospital, which will help develop tertiary-level medical service delivery. The assistance also covers a unique project in Telangana, which will help discover entrepreneurial skills focusing on women and the rural population and support the business expansion of MSMEs.
In Haryana, the project will promote sustainable horticulture and improve farmer's income by promoting crop diversification and infrastructure development. The forestry project in Rajasthan will enhance ecosystem services through afforestation, forest and biodiversity conservation.
In the mountainous state of Uttarakhand, the project aims to provide a stable water supply to urban towns. The fifth tranche of the Dedicated Freight Corridor project will help construct a new dedicated freight railway system and modernise the intermodal logistics system, enabling the handling of increased freight traffic.
"Economic partnership, a key pillar of India-Japan relations, has steadily progressed in the last few years. Exchange of Notes for these important projects will further strengthen the Strategic and Global Partnership between India and Japan," the Finance Ministry said.
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