Press Release

New Delhi, March 29th, 2023: Japan International Cooperation Agency (JICA) has signed a loan agreement with the Government of India to provide an Official Development Assistance (ODA) loan of 300 billion Japanese Yen (approx. INR 18,750 Crore) as tranche 4 for the ‘Project for the Construction of Mumbai-Ahmedabad High-Speed Rail (MAHSR).' It is the largest amount committed through a single project loan agreement in the history of JICA, across the globe.

The loan agreement was signed between Mr. Rajat Kumar Mishra, Additional Secretary, Department of Economic Affairs, Ministry of Finance, Government of India and Mr. SAITO Mitsunori, Chief Representative, JICA India.

JICA has been supporting the MAHSR project by providing ODA loans with the cumulative commitment amount of JPY 650 billion (INR 40,625 crore) since 2017 and by providing technical assistance including feasibility study, basic and detailed design, trainings in Japan, station area development technical cooperation project, and dispatch of Japanese Shinkansen experts to the executing agency of MAHSR project, National High Speed Rail Corporation Limited (NHSRCL).

The objective of the project is to develop a high-frequency mass transportation system by constructing the High-Speed Rail between Mumbai and Ahmedabad, using Japan's Shinkansen technology (also known as the "Bullet Train"), thereby enhancing mobility in India and contributing to regional economic development.

Speaking on this occasion, Mr. SAITO Mitsunori, Chief Representative, JICA India said, "The MAHSR project, by introducing Japan's High Speed Rail technology to India's first High Speed Rail project is a symbol of the Japan-India collaboration. I am pleased that Japan and India are implementing the project as "one team", as mentioned by the Honourable Prime Minister of India. Thanks to great efforts made by NHSRCL and our Indian colleagues, we have witnessed great progress in the civil work so far. On the sidelines of signing the loan agreement, we have also just released a new video introducing the MAHSR project and our support. I hope that through this video, our Indian friends will get to know more about this glorious national flagship project and JICA's role in facilitating it."

• English version (YouTube, external link)
• Hindi version (YouTube, external link)

About JICA

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.

• JICA India Office Web
• JICA India Brochure (PDF)
• JICA Facebook Page (external link)

For further information, please contact:

JICA India Office
Shusaku Takada /Aishwarya Mishra
+91 11 49097000
Takada.Shusaku@jica.go.jp
Mishra-Aishwarya@jica.go.jp

Edelman India
Rakhi Aurora
(+91) 9599067185
Rakhi.Aurora@edelman.com