March 31, 2022
New Delhi, March 31st 2022: Japan International Cooperation Agency (JICA) signed loan agreement with the Government of India to provide Japanese Official Development Assistance (ODA) loan amounting to JPY 23,129 million (approximately INR 1492 crore) for the North East Road Network Connectivity Improvement Project (Phase 6) for National Highway 208 (Khowai - Sabroom) in Tripura State.
The objectives of the project are in line with the Government of India approved "North Eastern Region vision 2020, aiming to develop transportation infrastructure by strengthening the connectivity in North East Region of India as well as the connectivity with other part of India and a neighbouring country, thereby promoting regional socio-economic development".
The National Highway 208 (NH208) will ensure regional connectivity for promoting domestic regional trades as well as promoting foreign trades between India and Bangladesh. The proposed regional connectivity will facilitate in promoting industrial development for Tripura State through establishing a direct land bridge between the north east states and the ports of Chattogram and Cox's Bazar in Bangladesh. The project is expected to contribute in regional economic development which is consistent with the India's development challenges and cooperation policy between Japan and India. The targeted section will undertake widening and rehabilitation of (4 lanes) 133.7 Km in total including construction of seven new bypasses (21.375 Km), rehabilitation of two major bridges and fifty eight minor bridges.
The loan agreement was signed between Mr.Rajat Kumar Mishra, Additional Secretary, Department of Economic Affairs, Ministry of Finance and Mr. SAITO Mitsunori, Chief Representative, JICA India office.
Speaking on this occasion, Mr. SAITO Mitsunori, Chief Representative, JICA India office said, "JICA will support India's efforts to improve connectivity for enhancement of sustainability and resilience. The road development in the North East Region is significantly important to improve connectivity in regions and the borders. JICA expects this project will act as growth engine for the economic development of the region as well as create employment opportunities for the local population in the State of Tripura and promote bilateral trade between India and Bangladesh. JICA is proud of its long-standing partnership with National Highways and Infrastructure Development Corporation Limited (NHIDCL). We strongly hope that the JICA's cooperation extended through Technical cooperation and ODA loan provision will further strengthen its cooperation in the North East States and thereby complete the project efficiently".
Since 2008, JICA has extended JPY 404,665 millionbillion Japanese Yen (approximately INR 26,107 crore) as concessional ODA loans for development of North East Region. Enhancing connectivity is one of prioritized area to support. Japan has extended JPY 161,530 million (approximately INR 10,421 crore) over Phase 1 to Phase 5 of the North East Road Connectivity Improvement Project, to help develop and improve national highways in the North East States, including NH-40, NH-51, NH-54, NH127B and NH-208.
Exchange Rate: INR 1/-=JPY 1.55/-
Established, by a specific law, as an incorporated administrative institution under the Government of Japan, the Japan International Cooperation Agency (JICA) aims to contribute to the promotion of international cooperation, as a sole Japanese governmental agency in charge of ODA implementation. JICA is the world's largest bilateral donor agency. JICA works as a bridge between Japan and emerging countries, and provides assistance in forms of loan, grant and technical cooperation so that the emerging countries can strengthen their capabilities.
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