Japanese Grant Aid Signed For Bengaluru Project
The Exchange of Notes on Japanese Grant Aid for the Project for Implementation of Advanced Traffic Information and Management System in Core Bengaluru, were signed between Mr S. Selvakumar, Joint Secretary, Department of Economic Affairs, Ministry of Finance, Government of India and Mr. Kenji Hiramatsu, Ambassador of Japan to India, in New Delhi today.
The Government of Japan has committed Grant Aid of an amount of JPY 1.276 billion (= approx. Rs. 72.86 crores) for the project. This Project will install an Advanced Traffic Information and Management System, including signalling system and traffic congestion length measurement sensor, in core Bengaluru, Karnataka. It is expected that this project will contribute to strengthening connectivity and industrial competitiveness of the local economy by improving traffic congestion and urban environment.
India and Japan have had a long and fruitful history of bilateral development cooperation since 1958. In the last few years, the economic cooperation between India and Japan has steadily progressed. This further consolidates and strengthens the Strategic and Global Partnership between India and Japan.