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Japan pledges $33.8 billion for 

infrastructure projects

TOKYO: Pledging to enhance bilateral cooperation, Japan today promised $33.8 billion assistance to India for the next five years towards funding next generation infrastructure projects, smart cities, rejuvenation of Ganga and introduction of bullet trains. 

Japanese funding will also be made available for public private partnership (PPP) projects in Indian government's initiatives in the fields of manufacturing, clean energy, skill development, water security, food processing and agro industry, agricultural cold chain and rural development. 

This was stated in a joint statement after meeting between visiting Prime Minister Narendra Modi and his Japanese counterpart Shinzo Abe

"Abe expressed his intention to (extend) 3.5 trillion yen of public and private investment and financing from Japan, including Overseas Development Assistance (ODA), to India in five years..." it added. 

Japan also promised to help India build high speed railway 'Shinkansen system' for the Ahmedabad - Mumbai route, it said. 

"Prime Minister Abe expressed his readiness to provide financial, technical and operational support to introduce Shinkansen system, for which Prime Minister Modi expressed his appreciation. 

"The two Prime Ministers look forward to the completion of the joint feasibility study on high speed railway system on Ahmedabad - Mumbai route," the statement said.