Japan Signs $1.9B Financing Deals with India

Japan and India have formalized seven agreements valued at 86.32 billion Indian rupees ($1.9 billion) to help the latter finance projects in the financial services, energy, urban transport, road safety and forestry sectors.

The deals were signed June 6 between Prabodh Saxena, joint secretary of India’s Department of Economic Affairs, and Akitaka Saiki, Japan’s ambassador to India, according to the Press Trust of India.

The deals include:

- 10.31 billion Indian rupees for the Andhra Pradesh High Voltage Distribution System Project.

- 10.24 billion Indian rupees for the Madhya Pradesh Transmission System Modernization Project.

- 16.65 billion Indian rupees for the second phase of the Micro, Small and Medium Enterprises Energy Saving Project.

- 16.65 billion Indian rupees for the New and Renewable Energy Development Project.

- 11 billion Indian rupees for the second phase of the Bangalore Metro Rail Project.

- 12.71 billion Indian rupees for the Bihar National Highway Improvement Project.

- 8.74 billion Indian rupees for the second phase of the Rajasthan Forestry and Biodiversity Project.

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    Eliza Villarino

    Eliza Villarino currently manages one of today’s leading publications on humanitarian aid, global health and international development, the weekly GDB. At Devex, she has helped grow a global newsroom, with talented journalists from major development hubs such as Washington, D.C, London and Brussels. She regularly writes about innovations in global development.