Japanese Prime Minister Fumio Kishida signed a loan deal with India during a recent visit to India for the fourth tranche of a Japanese loan to support the construction of the Mumbai-Ahmedabad High Speed Rail Line, totaling 300 billion yen (about 18,000 crore). This project, which was supposed to be finished in 2023, ran into problems with land acquisition. A high-level Japanese team, led by a special advisor to Kishida, visited India in January of this year to discuss cost overruns and delays. 80% of the project’s money will be provided as an easy loan by the loan from Japan.
India Japan bullet train pact
During their meeting, the leaders spoke about Japan’s efforts to promote India’s northeast through organisations like the Japan International Cooperation Association. To support regional prosperity, they decided to work with India and Bangladesh to promote the Bay of Bengal-North East India industrial value chain model. The three nations want to turn Bangladesh and the Northeast into industrial centres by coordinating regional infrastructure development initiatives and removing political roadblocks through economic cooperation agreements.
Japan is also prepared to invest to help this ambitious goal. By 2030, Japan will mobilise more than $75 billion in public and private funding in the Indo-Pacific region for infrastructure and to flourish alongside other nations, according to a statement from the Japanese Embassy in New Delhi.
Group Media Publication
Construction, Infrastructure and Mining
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