Japanese loan only after India signs CTBT: Kuroda

Japan on Thursday said that it will not extend loans unless India signs the Comprehensive Test Ban Treaty (CTBT) but was willing to enhance economic ties in areas of finance and information technology.

India should sign CTBT as quickly as possible so that we
can normalise the Indo-Japan relations, Japanese Vice
Minister of Finance for International Affairs H Kuroda said at a meeting in FICCI.
He said that although multilateral agencies like World Bank and Asian Development Bank (ADB) have started sanctioning fresh loans, the yen loan has been subjected to restrictions.
Kuroda, however, said that we think loans for basic human
needs should be considered.
On the sanction of $ 180 million for Surat-Manor
road project by ADB board of directors, where Japan has a
representation, he said We adopted a pragmatic approach while the particular project was discussed. But Japan abstained from the decision of sanctioning the loan.
The loan sanction for the 180 km stretch Surat-Manor
highway project estimated to cost $ 280 million, was
stalled after economic sanctions were imposed following
India's nuclear test in 1998.
Report : Zeenext Bureau


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