According to a statement released by the Japan International Cooperation Agency (JICA) on Wednesday, India has received a tranche 4 of Official Development Aid Loan (ODA) from JICA of ₹18,750 crore for the building of the Mumbai-Ahmedabad High-Speed Rail (MAHSR). In accordance with a contract, the loan has been approved.
Largest sum in JICA's history for a single project loan
It is the largest sum committed through a single project loan arrangement in JICA's history worldwide, according to a statement from the organisation.
According to the statement, JICA has been supporting the MAHSR project since 2017 by providing ODA loans totaling ₹40,625 crore and by offering technical assistance, including feasibility studies, basic and detailed designs, trainings in Japan, and the dispatch of Japanese Shinkansen experts to the MAHSR project's executing agency, National High Speed Rail Corporation Limited (NHSRCL).
JICA representative hails collaboration
By building a high-speed rail line between Mumbai and Ahmedabad utilising Japan's Shinkansen technology (commonly known as the bullet train), the project aims to create a high-frequency mass transportation system, improving mobility in India and fostering regional economic growth.
The MAHSR project, according to JICA India's chief representative Saito Mitsunori, is a representation of the partnership between Japan and India.
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