NEW DELHI: Japan Frinounced a concessional loan of Rs 2000 crores to India.
The Japanese government announced the annual loan equivalent to 106594 million yen under the ODA loan program at the aid India consortium meeting in Paris.
The amount represents an increase of 1.7% over the previous year’s loan program in terms of Japanese yen and an increase of more than 50% in terms of the Indian rupee.
A Japanese embassy release here said with the loan amount pledged in Paris Japan maintains the position of the largest bilateral donor of development assistance to India.
The loan carries a 2.6% interest per annum and are repayable in 30 years including a 10 year grace period
The loan amount pledged by Japan at the consortium meeting includes the 300 million dollars (40.5 billion yen) made available under two agreements on emergency loans concluded earlier this year.
The first emergency loan of 150 million dollars was extended for the import of diesel oil in May 1991 under co-financing with the Asian development bank. The second loan of an equal amount was agreed to in June to strengthen the financial resources of lending operations of the small industries development bank of India.
These two loans were announced to help India tide over its immediate balance of payments difficulties.
This year’s ODA loan package covers five projects. Of the five two each are for the improvement of basic infrastructure and preservation and improvement of environment.
In basic infrastructure sector the Gandhar gas combined cycle project is designed to mitigate serious shortage of electric power. The other project in this category is improvement of national highway on Mathura-Agra section.
The Aravalli hills afforestation project has been planned to check the desertification and help conserving flora and fauna of the affected region. The urban city water supply project is on the other hand designed to improve water supply systems in the cities of Sholapur and New Bombay.
The Ajanta-Ellora conservation and tourism development projects are a comprehensive plan centering on the Ajanta Ellora caves. The project includes archaeological conservation work for the caves environment protection in the area and development of infrastructure for the facilities for tourists.
WASHINGTON: The club of Rome consisting of 100 heads of state or government and leading citizens from all continents hopes to focus next on India Bertrand Schneider secretary general of the club told PTL here Tuesday.
Schneider and Alexander King coauthors of the club’s latest publication “The First Global Revolution” were here for briefing correspondents on the report.
The authors said their very first volume “the limits to growth” served the purpose of shocking the conscience of humanity. They were confident that “the first global revolution” would serve the same pupose.
Article extracted from this publication >> September 27, 1991
