Japan to give Rs 1,345 cr for projects in Maharashtra Goa

New Delhi, Aug 13 (UNI) India and Japan today exchanged notes for Rs 1,345 crore worth projects to be set up in Maharashtra and Goa with the Japanese loan under Official Development Assistance (ODA) programme for 2007.

The Japanese ODA for Goa Water Supply&Sewerage Project is being made available at 1.3 per cent interest rate, while for Maharashtra Transmission System Project, the intrest rate is 0.75 per cent, an official statement said this evening.

Finance Ministry's Joint Secretary (bilateral cooperation) Sanjay Krishna and Japanese Ambassador to India Yasukuni Enoki today exchanged notes on the loan package being made available under a double track mechanism in two batches.

Repayment of loan for the Goa project is 30 years, including a grace period of ten years, and for the Maharashtra project is 15 years, including a grace period of five years.

Last year, Japan provided an ODA package of about Rs 6,916. The total assistance provided by Japan since 1958 when bilateral evelopment cooperation began between the two nations, is estimated about Rs 93967 crore.

Presently, 54 projects are being implemented in India with Japanese loan assistance of about Rs 28,527 crore, the statement added.

UNI