Tokyo: Japan will provide up to $30 billion in loans and investments to support construction of major infrastructure in India, Nikkei business daily said on 22 June.
The fund will be announced when Economy, Trade and Industry Minister Akira Amari visits India later this month along with high-ranking officials from Japanese businesses, the report said.
Under the plan, the Japanese government and corporate sector will help finance national projects to build a freight rail network, industrial parks, ports and other infrastructure in Delhi and Mumbai, it said.
It will be one of Japan’s largest financial commitments for an overseas project of this type, the Nikkei said.
The Indian government estimates the project will cost a total of $90 billion by 2019.