NEW DELHI (Metro Rail News): JICA (Japan International Cooperation Agency ) has announced that India will receive a loan of 300,000 million Japanese Yen (approx. INR 18,750 Crore) for the construction of the Mumbai-Ahmedabad High-Speed Rail (MAHSR) project. The loan, which is the fourth tranch High-speed rail of official development assistance (ODA) from JICA, is the largest amount committed through a single project loan agreement in the agency’s history.
The announcement was made on Wednesday, March 29, after JICA signed an agreement with India. The Japanese agency has been providing ODA loans worth Rs 40,625 crore since 2017, as well as technical assistance like feasibility studies, training in Japan, as well as sending Japanese Shinkansen experts to the NHSRCL, the executing agency of the project.
The aim of the MAHSR project is to create a high-frequency mass transportation system between Mumbai and Ahmedabad, using Japan’s Shinkansen technology, generally known as the bullet train. This will increase mobility and regional economic development in India. The project is seen as a symbol of collaboration between Japan and India by JICA India chief representative, Mitsunori.
In addition to the MAHSR project, JICA has also signed an agreement with the Government of India to provide an ODA loan of 98,612 million yen (Rs 5,509 crore) for Phase 1 of the Patna Metro Rail project. With this loan, JICA aims to contribute to the development of urban infrastructure in Patna, the capital of the eastern state of Bihar.
JICA’s continued support for infrastructure development in India through ODA loans and technical assistance is seen as a testament to the strong and longstanding partnership between Japan and India. The MAHSR project and the Patna Metro Rail project are just two examples of this partnership, which is set to continue well into the future.
