Japan extends Rs 1,336 crore loan to IIT-Hyderabad

Q: Hey heard that Japan extends Rs 1,336 crore loan to IIT-Hyderabad. Kindly discuss on this news.

Abdul Zafar, Hyderabad

30th January 2014

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Replies (2)

@Gurmeet: JICA together with top-level Japanese universities and major Japanese companies, has comprehensively assisted in development of IIT-Hyderabad through three technical cooperation projects and this loan.

Santosh TR,

30th January 2014

Comment

I think Japan was extending concessional loans earlier also and after the recent engagement as a very close partners and moving to forge strategic relations,Japan has become one of the crucial partner in terms of finance, security and ,technologies.

Gurmeet,

30th January 2014

Yes Abdul, Japan International Cooperation Agency (JICA) signed an agreement to extend a loan of about Rs 1,336 crore for infrastructure development of the newly-established Indian Institute of Technology in Hyderabad.

Santosh TR,

30th January 2014

Comment

@Santosh : As far as I heard Professors from the University of Tokyo would be involved with preparation of concept designs and architectural plans for some of the important buildings on the campus to be covered under the loan.

Srikumar Nair,

30th January 2014

Also the loan comes at a concessional rate of 1.40 per cent and carries a repayment period of 30 years with a grace period of 10 years.

Gurmeet,

30th January 2014