Japan pledges Y186 bil loans to India

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Japan pledges Y186 bil loans to India

Post by Admin on Tue Mar 11, 2008 4:04 pm

Japan pledges Y186 bil loans to India
Tuesday, March 11, 2008 at 05:00 EST


TOKYO The Japanese government announced Monday that it will extend up to 185.58 billion yen in yen loans to India to help build a subway system, roads and other infrastructure in the country.

With the fresh loans, India will become the top recipient of Japanese official development assistance for the fifth straight year with the amount of aid, including that promised last August, totaling 225.13 billion yen for the year ending March.

Tokyo believes that the financial assistance for the South Asian country will be a good investment in light of India's potential for future economic growth. It also believes that the loans will help to facilitate Japanese companies' entries into India.

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