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NEW DELHI, April 3 Asia Pulse - Japan on Friday agreed to extend about Rs 59.10 billion (US$1.3 billion) as Official Development Assistance for financial year 2005-06, to fund various projects in diverse sectors.
The ODA, the largest soft loan package from Tokyo to any country, represents a 15.6 per cent increase over the assistance extended last year.
The loan would be used to fund 10 projects in fields such as power generation, rural electrification, environment, forestry, water supply and sewerage, urban transport (including the Bangalore Metro Rail project) and port sectors, Hidenao Yanagi, Minister of Economic Development at the Embassy of Japan said on Friday.
Notes to formalise the agreement were exchanged between Additional Secretary, Department of Economic Affairs, Ministry of Finance Ashok Chawla and ...