March 27, 2020
New Delhi, March 27, 2020: Japan International Cooperation Agency (JICA) has signed an agreement with the Mumbai Metropolitan Region Development Authority (MMRDA) to provide an Official Development Assistance (ODA) loan of 66,909 million Japanese Yen (approximately INR 4,262 Crore) for "Mumbai Trans-Harbour Link Project (II)".
The objective of the Project is to improve connectivity in Mumbai Metropolitan Region by constructing the Mumbai Trans Harbour Link (MTHL) connecting Mumbai with Navi Mumbai, mitigating traffic congestion and promoting economic development. This loan agreement is the second tranche of JICA financing for MTHL and the Loan Agreement for the 1st tranche was signed on March 31, 2017 for an amount of JPY 144,795 million (approx. INR 7,912 crore). The commencement date of 3 civil works package was March 23, 2018 and the current financial progress, as of March 15, 2020, is 24% each for Package 1 and Package 2 and is 29.70% for Package 3 under the project.
The ODA loan agreement was signed between Mr. Samir Sahai, Resident Commissioner, Maharashtra Sadan and Mr. Katsuo Matsumoto, Chief Representative, JICA India. Govt. of India is the guarantor for the loan agreement of the project.
Speaking on the occasion, Mr. Katsuo Matsumoto, Chief Representative, JICA India said, "The Project will serve Maharashtra's need for rapid urbanization. MTHL is a road bridge to connect Mumbai with Navi Mumbai, and, when completed, will be the longest sea bridge in India. The project exemplifies the Government of India's mission to make transport one of the propeller of economic growth. The Project will not only improve infrastructure in the state, but will also promote regional economic development and will create a faster connection between Mumbai and Navi Mumbai International Airport, Jawaharlal Nehru Port, Mumbai-Pune expressway and the hinterland."
Mumbai Metropolitan Region, which includes Mumbai and Navi Mumbai, has about 18.4 million people (as per Census 2011) and the population density reaches 20,694 people per square km in the center of Mumbai, making it one of the most densely populated cities in the world. Mumbai, the narrow stretch of land that has traditionally been the epicenter of India's commerce, has seen a steady increase in population in the last three decades. The development of Navi Mumbai is therefore an urgent requirement for broad-based development in the Mumbai Metropolitan Region. The MTHL has been identified as an important infrastructure project to improve connectivity and spur faster economic development in the Mumbai Metropolitan Region.
The Mumbai Metropolitan Region Development Authority (MMRDA) is the borrower and the Executing Agency of the Project
JICA supports transport projects all over India, both in mega cities and in rural areas. It has extended ODA loans of over 2,900 billion Japanese Yen (approximately INR 193,000 Crore) since 1982/83 in this sector.
Mr. Matsumoto, Chief Representative, JICA India, signing the loan the agreements
Total 9 loan agreements got signed
Established, by a specific law, as an independent 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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