India-Japan sign ODA loan agreement worth Rs.7000 crore for metro and bullet train projects

New Delhi: The Ministry of Railways has closed the mouths of critics after negotiating the installment of a debt of Rs 5,500 crore with Japanese agency Japan International Cooperation Agency (JICA) for the bullet train project.

On Friday, another agreement for the Rs. 1600 crore loan for Kolkata Metro was also signed. India and Japan signed two loan agreements of Rs 7200 crore for the third phase of the Mumbai-Ahmedabad High Speed ​​Rail Project and the third phase of the Kolkata East-West Metro Project.

On both the documents, from Govt. of India Secretary Department of Economic Affairs, Dr. S. C. Mohapatra and Chief Representative of Japan International Cooperation Agency (JICA) Katsuo Matsumoto signed the documents.

Under the agreements, loans for the first phase of the Mumbai-Ahmedabad high speed bullet train (HSR) project will be given for 89.457 billion yen (about 5591 million rupees) and for the third phase of the Kolkata East West Metro project, 25.903 billion yen (about 1619 million rupees) will be given.

In the past, such discussions were spread that Japan has stopped the loan for the bullet train project. Ministry of Railways denied this.

According to the agreement, Japan International Cooperation Agency will provide a loan of Rs 5,591 crore for Mumbai-Ahmedabad high-speed rail project and Rs 1,619 crore for Kolkata East-West Metro project.