India to receive development assistance loan worth Rs 3,500 Cr from Japan to fight COVID-19

Japan has committed an official Development Assistance loan of 3 thousand 500 crore rupees for the COVID-19 Crisis Emergency Response Support. The Notes were exchanged between the Additional Secretary in the Department of Economic Affairs Dr C.S. Mohapatra and Ambassador of Japan to India Suzuki Satoshi for a Health sector programme loan to fight the COVID-19 crisis.

Subsequent to the Exchange of Notes, Loan Agreement for the programme loan was signed between Dr Mohapatra and Chief Representative of JICA in New Delhi Katsuo Matsumoto.

Japan International Cooperation Agency, JICA is a governmental agency that coordinates Official Development Assistance for the Government of Japan.

This programme loan aims to support India’s efforts in fighting COVID-19 and to prepare the health system to manage future epidemics and also to improve the resilience of India’s health systems against infectious diseases.

Notes were also exchanged between Dr. Mohapatra and Mr Satoshi for Grant Assistance of 70 crore rupees from the Government of Japan.

This Grant-in-aid from the Government of Japan is for providing medical equipment to strengthen the public health and medical system in India. It will strengthen the health care facilities for managing critical and serious patients suffering from COVID-19 infection.

India and Japan have had a long and fruitful history of bilateral development cooperation since 1958. In the last few years, the economic cooperation between India and Japan has strengthened and grown into strategic partnership. It further consolidates and strengthens the Strategic and Global Partnership between India and Japan.



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