The Japan International Cooperation Agency (JICA) has signed a loan agreement with the Centre to provide an Official Development Assistance (ODA) loan of 100,000 million Japanese Yen (nearly ₹6,000 crore) as Tranche 3 for Mumbai-Ahmedabad High-Speed Rail (MAHSR) rail project. The funds meant for investment to develop a high-frequency mass transportation system by constructing the High-Speed Rail between Mumbai and Ahmedabad, using Japan’s Shinkansen technology (also known as the Bullet train). The loan agreement was signed between Additional Secretary (Department of Economic Affairs) Rajat Kumar Mishra and senior representative, JICA India, Watanabe Jun. It may be recalled that JICA has been supporting the MAHSR project by providing ODA loans. The agreement is after the JPY 250,000 million (₹18,000 crore) package of JICA’s commitment in 2017. The loan agreement between JICA and the Centre came days after the new Maharashtra CM gave all clearances for the Bullet train project to boost the development on fast tracked basis.
