Japan to extend Rs 2,760-crore loan to India for river projects
28 March 2015 5:38 AM IST
India has signed a Rs 2,760-crore loan deal with Japan for the development of the second phase of the Rengali irrigation project in Odisha and cleaning of river Mula-Mutha in Pune, Maharashtra.
The ‘Exchange of Notes’ on Japanese (Official Development Assistance) ODA Loan for the two projects totalling JPY 53.023 billion was here.
The pact was signed between Ambassador of Japan to India Takeshi Yagi and Joint Secretary in Indian Finance Ministry Tarun Bajaj.
The Japanese ODA loan for Rengali Irrigation Project (Phase 2) will be provided to install irrigation facilities, organise and build the capacity of Water Users Associations, and extend technical guidance to the farmers in the area of River Burahmani in Odisha.
“It is expected that this loan will contribute to poverty alleviation by increasing and diversifying agricultural production and thus raising agricultural income Rengali Irrigation Project (Phase 2),” Embassy of Japan said in a statement.
The ‘Exchange of Notes’ on Japanese (Official Development Assistance) ODA Loan for the two projects totalling JPY 53.023 billion was here.
The pact was signed between Ambassador of Japan to India Takeshi Yagi and Joint Secretary in Indian Finance Ministry Tarun Bajaj.
The Japanese ODA loan for Rengali Irrigation Project (Phase 2) will be provided to install irrigation facilities, organise and build the capacity of Water Users Associations, and extend technical guidance to the farmers in the area of River Burahmani in Odisha.
“It is expected that this loan will contribute to poverty alleviation by increasing and diversifying agricultural production and thus raising agricultural income Rengali Irrigation Project (Phase 2),” Embassy of Japan said in a statement.
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