Japan’s Official Development Assistance Loan worth Rs. 5,479 crore to India for Chennai Metro and Ahmedabad Metro Projects
Japan’s Official
Development Assistance Loan worth Rs. 5,479 crore to India for Chennai Metro
and Ahmedabad Metro Projects
Government of India attaches highest importance to infrastructure projects.
A very important components of infrastructure is urban infrastructure. Within
urban infrastructure, provision of metro rail gains more importance because of
its environment friendly nature. It reduces the traffic congestion in the
cities where the traffic is over flowing and also reduces Green House Gas Emission.
In this regard, Government of India is continuously making efforts to obtain bilateral and multilateral funding to meet this financial requirement.
The latest initiative is the agreements signed between Department of Economic Affairs (DEA), Ministry of Finance, Government of India and Government of Japan for an official development assistance loan of an amount of JPY 19.981 billion (= approx. Rs.1069 Crores.) for the Chennai Metro Rail Project (IV) and JPY 82.434 billion (=approx. Rs.4410 Crores) for the Ahmedabad Metro Project.
The above agreements were signed by the Joint Secretary, DEA, Ministry of Finance, Government of India, Shri S. Selvakumar and Mr. Yutaka Kikuta, Deputy Chief of Mission of Japan to India here on last Friday.
India and Japan have had mutually beneficial economic development cooperation since 1958. In the last few years, the economic cooperation between India and Japan has strengthened and grown into strategic partnership. With overall consensus and popular support for the greater cooperation between India and Japan, the partnership is poised for a great future.
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India
raises the issue on a roadmap for USD 100 billion in climate change financing a
year by 2020 and calls for more credible, accurate, and verifiable numbers on
the true size of the mobilization of climate change finance commitments and
flows from developed to developing countries: Shaktikanta Das, Secretary, DEA
During the recent Lima World
Bank/IMF meetings, India had raised the issue on a roadmap for USD 100 billion
in climate change financing a year by 2020. This is stated by ShriShaktikanta
Das, Secretary, Department of Economic Affairs (DEA), Ministry of Financein his
‘Foreward’ to the Discussion Paper entitled “Climate Change Finance, Analysis
of a Recent OECD Report: Some Credible Facts Needed” prepared by the
Climate Change Finance Unit, Department of Economic Affairs, Ministry of
Finance, Government of India. The Discussion/Review Paper is also attached here
with for ready reference and record.
Shri Das has further stated in
his aforesaid ‘Foreward’that India had also raised questions on the correctness
of the recent OECD report---which claimed that significant progress had already
been made. Secretary, Department of Economic Affairshas also stated that in the
conclusion of their Review of OECD report, our Climate Change Finance Unit,
Department of Economic Affairs, Ministry of Finance and its experts have
mentioned that the OECD report appears to have overstated progress. The
attached Discussion/Review paper suggests that much more work has to be done.
Shri Das further mentioned that we need to establish more credible, accurate,
and verifiable numbers on the true size of the mobilization of climate change
finance commitments and flows from developed to developing countries.
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