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JICA signs a 6,000-cr credit agreement for a bullet train

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JICA signs a 6,000-cr credit agreement for a bullet train

The Mumbai-Ahmedabad High-Speed Rail (MAHSR) rail project has received a Tranche 3 Official Development Assistance (ODA) loan from the Japan International Cooperation Agency (JICA) in the amount of 100,000 million Japanese Yen (almost 6,000 crore). The monies allocated for investment will be used to build a high-frequency mass transit line between Mumbai and Ahmedabad using Japan’s Shinkansen technology (also known as the Bullet train). Rajat Kumar Mishra, additional secretary (department of economic affairs), and Watanabe Jun, senior representative, signed the loan agreement. You may remember that JICA has been lending money through ODA to the MAHSR project. The accord follows JICA’s 2017 promise of JPY 250,000,000,000 (18,000 crore).

Days after the new Maharashtra Chief Minister granted final approval for the Bullet train project to advance development on a fast-track basis, JICA and the Centre reached their finance deal.

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