Programme loan aims to support India’s efforts to provide coordinated and adequate social protection to the poor and vulnerable across the country against the severe impacts of COVID-19 pandemic
The Government of Japan has committed Official Development Assistance loan of an amount of JPY 30 billion (approx. Rs. 2,113 crore) for a programme loan to support India’s efforts at providing social assistance to the poor and vulnerable households, severely impacted by the COVID-19 pandemic.
As per a statement from the finance ministry, the Notes were exchanged today between Dr CS Mohapatra, Additional Secretary, Department of Economic Affairs, Government of India and Suzuki Satoshi, Ambassador, Embassy of Japan to India for COVID-19 Crisis Response Support Loan for Social Protection. Subsequent to the Exchange of Notes, Loan Agreement for this programme loan was signed between Dr. Mohapatra and Katsuo Matsumoto, Chief Representative, JICA, New Delhi.
This programme loan aims to support India’s efforts to provide coordinated and adequate social protection to the poor and vulnerable across the country against the severe impacts of COVID-19 pandemic.
Referring to India and Japan’s history of bilateral development cooperation since 1958, the statement said that in the last few years, the economic cooperation between India and Japan has strengthened and grown into strategic partnership. Today’s announcement further consolidates and strengthens the Strategic and Global Partnership between India and Japan, as per the statement.