Japanese Premiere, Shinzo Abe who will be on a three-day visit to India come Saturday will announce a loan of $2 Billion.
Saturday, January 25, 2014: Japan’s Prime Minister Shinzo Abe will announce low-interest loans to India worth $2.0 billion when he visits his counterpart Manmohan Singh in India. Abe, accompanied by a Japanese business delegation will be on a three-day state visit to India beginning this Saturday. The yen loans totaling about 210 billion Yen will be provided for construction of subway lines and energy-conservation projects here in India.
It must be noted that Japanese companies are involved in projects to expand New Delhi’s subway system but competition for infrastructure works in India has intensified particularly with South Korean and European firms entering the market. The Japanese Premiere hopes to support Japanese corporations by creating an environment that makes it easier for them to win orders through the visit.
Some 60 billion Yen of the loan is expected to go toward energy-conservation projects, including the development of solar power plants and wind farms through an Indian government-backed company handling renewable energy projects.
Abe has traveled the globe extensively since coming to power in December 2012. The India visit is expected to boost ties between both the countries in the long run.
