India and Japan Exchange Notes; Japan Commits Loan Package of about Rs.8632 Crore to Fund Seven Projects; India Continues to be Highest Recipient of ODA from Japan.

Press Information Bureau
Government of India
Ministry of Finance

06-June-2011 17:37 IST

India and Japan Exchange Notes; Japan Commits Loan Package of about Rs.8632 Crore to Fund Seven Projects; India Continues to be Highest Recipient of ODA from Japan

            The Notes worth Rs. 8632 crore were exchanged today betweenJapan andIndia.  Shri Prabodh Saxena, Joint Secretary, Department of Economic Affairs, Government of India and H.E. Mr. Akitaka Saiki, Ambassador of Japan toIndia exchanged the notes at a simple ceremony, here today.  Through this Exchange of Notes, Japan committed an amount of Yen 155.549 billion (about Rs.8632 crore for the second batch of FY 2010 JICA ODA loan package) to fund the following 7 (seven) projects:-

            With today’s Exchange of Notes, the cumulative commitment of ODA fromJapanhas reached JPY 3320.369 billion.  However,Indiacontinues to be the highest recipient of ODA fromJapan. 

           IndiaandJapanhave had a long and fruitful history of bilateral development cooperation since 1958.  In the last few years,  relations betweenIndiaandJapanhave steadily progressed based on India-Japan Global Partnership.  The visits of the Indian Prime Minister to Japan in 2006, 2008 and 2010 and the visit of Japanese Prime Minister to India in 2007 and 2009 have further strengthened the India-Japan Global Partnership by adding greater substance to the Bilateral relations based on India-Japan Global Partnership.

DSM/SS/GN