Reports of Japan stopping funds for bullet train far from truth: NHSRCL

New Delhi: Questioning the veracity of media report claiming that Japan International Cooperation Agency (JICA) has stopped funding for the Mumbai – Ahmedabad bullet train on the pretext that the government should first look into the problems of farmers, the National High Speed Rail Corporation Ltd (NHSRCL), nodal agency for the execution of the project, said the report is not true and not based on facts.

“In fact, the GoI and JICA have already signed a loan agreement of about 10 billion yen and no payment is pending from JICA as on date,” NHSRCL said in a statement.

NHSRCL said it is committed to care of the interests of the affected farmers, adding that all necessary steps with regard to submission of various reports ie. social impact assessment, environment impact assessment and indigenous people plan have already been taken by the Indian side and the reports already submitted to JICA.

Formed on October 1, 2003, JICA is a governmental agency that coordinates official development assistance for the government of Japan. Its aim is to “contribute to the promotion of international cooperation as well as the sound development of Japanese and global economy by supporting the socioeconomic development, recovery or economic stability of developing regions”.