Home ECONOMY Japan to extend Rs 1,732 cr loan for Odisha river project

Japan to extend Rs 1,732 cr loan for Odisha river project


Odisha Sun Times Bureau
New Delhi/Bhubaneswar, Mar 27:

The Union government has entered into a Rs 1,732 crore loan deal with Japan for the development of the second phase of the Rengali irrigation project in Odisha.

ODA  The Japanese Official Development Assistance (ODA) loan for Rengali Irrigation Project (Phase 2) will be provided to install irrigation facilities, organise and build the capacity of Water Users Associations, and extend technical guidance to the farmers in the area of River Brahmani in Odisha.

“It is expected that this loan will contribute to poverty alleviation by increasing and diversifying agricultural production and thus raising agricultural income through Rengali Irrigation Project (Phase 2),” Embassy of Japan said in a statement.

The pact was signed between Ambassador of Japan to India Takeshi Yagi and Joint Secretary in Indian Finance Ministry Tarun Bajaj.

The ‘Exchange of Notes’ on Japanese ODA loan for the project was JPY 33.959 billion.


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