To aid India’s growing infrastructure sector, multilateral agency, JICA has signed a loan agreement of Rs 34.20 billion with Indian government under Japanese Official Development Assistance Loan Program for the construction of Chennai Peripheral Ring Road (Phase 1) for Rs 24.70 billion approx.), and program for Japan-India Cooperative Actions towards Sustainable Development Goals in India for Rs9.50 billion.
By constructing the Chennai Peripheral Ring Road (Section 1) and installing Intelligent Transport Systems the city authority aims to meet increasing traffic demands in the city’s metropolitan area, thereby contributing to the mitigation of traffic congestion and promoting regional economic development.
The Program for Japan-India Cooperative Actions towards Sustainable Development Goals (SDGs) in India aims to contribute to the promotion of SDGs in India especially in social development by supporting the efforts by the Government of India to strengthen the Policy Framework and Implementation Mechanism, thereby supporting India in achieving SDGs by 2030.