Japan to provide loans worth Rs 2,288 crore for two projects in India

Japan will provide loans worth Rs 2,288 crore to India for the Mumbai Trans-Harbour Link Project in Maharashtra and for a Super-Specialty Cancer and Research Centre in Mizoram.

An official statement on Monday said that Japan has approved JPY 30.755 billion or about Rs 1,728 crore for the project in Maharashtra and JPY 9.918 billion or around Rs 560 crore for developing the centre in Mizoram.

Mumbai Trans-Harbour Link Project aims to improve connectivity in Mumbai Metropolitan Region by connecting Mumbai with Navi Mumbai, thereby contributing to mitigation of traffic congestion and promoting regional economic development. This is tranche-III loan for the project, it said.

The project for the centre in Mizoram aims to improve access to cancer prevention, detection, and treatment as well as human resource development and research that support cancer control system. This will contribute to achieving universal health coverage through strengthening the healthcare system pertaining to cancer in the state.

India and Japan have had a long and fruitful history of bilateral development cooperation since 1958, it said.