Japan Promises Fresh Loans to India

The Japanese foreign ministry announced on Monday the country's 185.58 billion yen (about 1.82 billion U.S. dollars) of fresh yen loans to India aimed at assisting India's infrastructure construction and environment protection efforts.

The loans will go to six infrastructure projects including a New Delhi subway system, a forest preservation program to fight against global warming and a poverty reduction project to ensure further economic growth.

With the new promise, India will have received a total of 225. 13 billion yen (about 2.21 billion dollars) in yen loans from Japan in the year ending March, topping the list of Japan's official development assistance recipients for the fifth year in a row.

2008-03-17

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