JICA signs ₹18,750-cr loan agreement with India for MAHSR project

The Japan International Cooperation Agency (JICA) has signed an agreement with India to provide an Official Development Assistance (ODA) loan of ₹18,750 crore as tranche 4 for the construction of the Mumbai-Ahmedabad High-Speed Rail (MAHSR). This is the largest amount committed through a single project loan agreement in the history of JICA across the globe. JICA has been supporting the MAHSR project since 2017 by providing ODA loans with a cumulative commitment of ₹40,625 crore and technical assistance, including feasibility study, basic and detailed design, training in Japan, and dispatch of Japanese Shinkansen experts to the National High-Speed Rail Corporation Limited (NHSRCL), the executing agency of MAHSR project.

The project's objective is to develop a high-frequency mass transportation system by building a high-speed rail between Mumbai and Ahmedabad using Japan's Shinkansen technology (bullet train), thereby improving mobility in India and contributing to regional economic development. In another statement, JICA said it has signed an agreement with India to provide a Japanese ODA loan of ₹5,521 crore for the Patna Metro Rail Construction Project (I). The project aims to cope with the growing traffic demand in Patna by constructing a new metro corridor, contributing to the improvement of the urban environment and development of the economy, as well as mitigation of climate change in the city. The objective of the project is to reduce emissions and adverse environmental impacts by creating a public transport-oriented city.