Japan commits Rs 2,113 cr assistance loan to India for Covid crisis response

at 7:02 pm
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New Delhi (NVI): The government of Japan committed official development assistance loan of JPY 30 billion (approx Rs 2,113 crore) to support India’s efforts at providing assistance to the poor and vulnerable impacted by the COVID-19 pandemic.

The notes were exchanged today between CS Mohapatra, Additional Secretary, Department of Economic Affairs, Government of India and Suzuki Satoshi, Ambassador, Embassy of Japan to India for COVID-19 Crisis Response Support Loan for Social Protection, the Ministry of Finance said in a statement.

“Subsequent to the exchange of notes, loan agreement for this programme loan was signed between Mohapatra and Katsuo Matsumoto, Chief Representative, Japan International Cooperation Agency (JICA), New Delhi,” it said.

The loan aims to support India’s efforts to provide coordinated and adequate social protection to the poor and vulnerable households across the country against the severe impacts of COVID-19 pandemic.

Referring to India and Japan’s history of bilateral development cooperation since 1958, the statement stated that in the last few years, the economic cooperation between India and Japan has strengthened and grown into strategic partnership.

“This further consolidates and strengthens the Strategic and Global Partnership between India and Japan,” it added.