CURRENT AFFAIRS

Detailed explanation-1: -On March 31, the Japan International Cooperation Agency (JICA) signed loan agreements with the Government of India in Delhi, to provide Japanese ODA loans of up to a total of 312.258billion yen for the following seven projects.

Detailed explanation-2: -“With this project, we aim to simplify mobility and ease connectivity with a safe and reliable inter-city transport system. This Japan-India collaboration will ensure Transfer of Technology from Japan’s High Speed Rail system to India, and also give a boost to “Make in India” initiative,” Jun added.

Detailed explanation-3: -ODA loans, commonly known as yen loans in the case of Japan, are loans extended by donor governments directly to developing countries. They are classified as a form of official development assistance under the flow of development funds scheme produced by the OECD’s Development Assistance Committee (DAC).

Detailed explanation-4: -What is JICA… Japan International Cooperation Agency (JICA) is an implementing agency of Japanese official development aid (ODA) for the purpose of supporting the socioeconomic development, recovery or economic stability of developing regions.

Detailed explanation-5: -JICA & India India was then the first recipient in the world of Japanese ODA loan. Since then, over 6,566 billion Japanese Yen (approximately Rs. 4,37,742 crores) in ODA loans have been committed for development across various sectors. Technical Cooperation with India started in 1966.