New Delhi, April 1: Japan will extend official development assistance of 125 billion yen to India for 2003-04 (April-March), a finance ministry statement said. The loan is for eight projects in power, irrigation, forestry, water supply, and urban transportation sectors. The rate of interest will be 1.3% per annum for general projects and 0.75% for forestry projects and the repayment will be 20 years for general projects and thirty for forestry projects, the statement said. India has become the largest recipient of Japanese ODA assistance in 2003-04. Japan usually releases its ODA loan for each fiscal in March.
Bureau Report