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Home » CleanTech/ Renewable Energy » Japan to give Rs 73.61billion for infra projects in India

Japan to give Rs 73.61billion for infra projects in India

Panchabuta had mentioned in December last year that, Japan Bank for International Cooperation (JBIC) is looking at providing equity funding to private sector projects in India instead of debt support for public sector entities. The principal Japanese overseas funding agency is also shifting its focus on the Indian market from China following political tensions with its Asian neighbour.

Earlier in February this year, Panchabuta had mentioned that the Japan Bank for International Cooperation (JBIC) that is looking at providing equity funding to private sector projects in India instead of debt support for public sector entities. The JBIC has earlier talked about intention to create a green investment fund not limited to India but mainly for India, with other partners such as the International Finance Corporation.

Since, Japan Bank for International Cooperation signed $200mn loan with ICICI India to finance renewable energy, energy efficiency projects in India.

Early last month, Japanese International Cooperation Agency had evinced  interest in funding Tamil Nadu Electricity Board’s Rs. 40 billion wind energy grid infrastructure evacuation project.

According to reports, Japan International Cooperation Agency (JICA) has agreed to Rs 7,361 crore as a soft loan to India for various infrastructure projects in India. The loan will cover six development projects in the areas of power, transportation, forestation and energy to support India’s efforts to improve its infrastructure.

The loan amount will also focus of projects that will help accelerate the spread of new and renewable energy and energy conservation projects using Japanese technology .

The projects include two power projects in Andhra Pradesh and Madhya Pradesh respectively, Bangalore metro rail project, a bio diversity project in Rajasthan, an energy saving project for small and medium industries and a renewable energy project.

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