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Japan spins Indian hopes

Manipur sericulture project showcased at the photo-exhibition of Japanese economic cooperation with India in New Delhi.

To commemorate the golden jubilee year of Japanese Official Development Assistance (ODA) Loans to India, the Embassy of Japan and the Japan Bank for International Cooperation are hosting a five-day photo-exhibition at the All-India Fine Arts and Crafts Society gallery on Rafi Marg in New Delhi.

The exhibition, which re-visits the history of Japanese economic cooperation with India, was inaugurated by Japanese Ambassador Hideaki Domichi at AIFACS on Monday.

Pointing out that the first Japanese ODA loan ever extended abroad was disbursed during the then Prime Minister Jawaharlal Nehru’s visit to Japan in 1957, Mr. Domichi said: “Since then bilateral cooperation between our two countries has increased and today India is the largest Japanese ODA loan partner in the world. I am confident that relations between the two countries would expand rapidly in the coming decades and Japanese ODA loans will continue to play a pivotal role in the development of India’s economy.”

The basic purpose of ODA loans is to provide concessional long-term, low-interest funds needed for self-help efforts by developing countries for socio-economic infrastructure development and economic stabilisation. A part of the proceeds of the first loan to India was utilised for power generation in the Bhakra Nangal project and Hirakhud hydroelectric project.

Finance Secretary Subbarao said the Japanese ODA loans had helped change the lives of millions of people in India. “These loans have helped us in accessing water and power and maintaining a clean environment. The changes brought about by the Delhi Metro rail have been so dramatic that virtually every Indian city wants a metro through Japanese aid,” he added.

The exhibition at AIFACS showcases photographs of the Delhi Metro project, construction of a bridge over the Yamuna at Allahabad, Ajanta-Ellora conservation and tourism development project, Attappady wasteland comprehensive environmental conservation project and Manipur sericulture project and others.

After Delhi, the exhibition will travel to Mumbai, Kolkata and Chennai.

Madhur Tankha

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