Rs 4000 crore aid from Japan for better road connectivity in North East


Rs 4000 crore aid from Japan for better road connectivity in North East

The Japan International Cooperation Agency (JICA) recently signed an agreement with the Union government in New Delhi to provide 67,170 million Japanese Yen (approximately Rs 4,000 crore) for Phase I of the North East Road Network Connectivity Improvement Project. JICA is a bilateral donor agency. The agreement was signed between JICA India Office chief representative Takema Sakamoto and joint secretary of the department of economic affairs of the Union ministry of finance, S Selvakumar.Official Development Assistance Loan (ODA) is provided at a concessional 1.4% interest rate for project activities and 0.01% interest rate for consulting services and offers a 30-year period of repayment (including 10 years of grace period).The assistance is for improving connectivity in the northeast by constructing national highways and bridges.Sakamoto said the project will contribute towards socio-economic development and regional connectivity. Under the project, he said modern slope protection technologies will be used to address the problem of landslides in the northeast. Read More…

 

Credit By : nyoooz.com

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