India and Japan have decided to enhance the earlier bilateral currency swap arranÂgement to $15 billion from the current $3 billion. A joint staÂtement, 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 importaÂnce of infrastructure development between Chennai and Bangalore, wherein an increasing nuÂmber of Japanese companies have made direct investment, the two leaders decided to strenÂgthen 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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