Japan commits JPY50 billion loan for COVID-19 crisis response support in India

This programme loan aims to support India’s efforts in fighting COVID-19 and to prepare the health system to manage future epidemics and also to improve the resilience of India’s health systems against infectious diseases.

The Govt. of Japan has committed Official Development Assistance loan of an amount of JPY50 billion (approx. Rs. 3,500 crores) for the COVID-19 Crisis Emergency Response Support. The Notes were exchanged today between Dr C.S. Mohapatra, Additional Secretary, Department of Economic Affairs, Government of India, and Mr Suzuki Satoshi, Ambassador, Embassy of Japan to India for a Health sector programme loan to fight the COVID-19 crisis.

Subsequent to the Exchange of Notes, Loan Agreement for this programme loan was signed between Dr C.S. Mohapatra, Additional Secretary, Department of Economic Affairs, Ministry of Finance, Government of India and Mr Katsuo Matsumoto, Chief Representative, JICA, New Delhi.

This programme loan aims to support India's efforts in fighting COVID-19 and to prepare the health system to manage future epidemics and also to improve the resilience of India's health systems against infectious diseases.

In addition, Notes were also exchanged today between Dr C.S. Mohapatra, Additional Secretary, Department of Economic Affairs, and Mr Suzuki Satoshi, Ambassador, Embassy of Japan to India for Grant Assistance of an amount of JPY 1 billion (= approx. Rs. 70 crores) from Government of Japan.

This Grant-in-aid from the Government of Japan is for providing medical equipment to strengthen the public health and medical system in India. This will strengthen the health care facilities for managing critical and serious patients suffering from COVID-19 infection.

India and Japan have had a long and fruitful history of bilateral development cooperation since 1958. In the last few years, the economic cooperation between India and Japan has strengthened and grown into a strategic partnership. This further consolidates and strengthens the Strategic and Global Partnership between India and Japan.

(With Inputs from PIB)