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Japan promises aid for infra development

Japan promises aid for infra development
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India and Japan have decided to enhance the earlier bilateral currency swap arran­gement to $15 billion from the current $3 billion. A joint sta­tement, issued after official level talks between the Prime Minister, Dr Manmohan Singh, and his Japanese counterpart Yoshihiko Noda expressed the hope that this enhancement will further strengthen financial cooperation, contribute to ensuring financial market stability and further develop growing economic and trade ties between the two countries.

Stressing on the importa­nce of infrastructure development between Chennai and Bangalore, wherein an increasing nu­mber of Japanese companies have made direct investment, the two leaders decided to stren­gthen efforts to improve infrastructure such as ports, industrial parks, and their surrounding facilities in Ennore, Chennai and adjoining areas. Japan decided to provide a $1.7-billion assistance to two projects, including the Delhi Metro.

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