The Japan International Cooperation on July 25, 2022 Agency signed a loan agreement with the Government of India to provide an official development assistance loan of Rs 60 billion (YEN 100 billion) for the Mumbai-Ahmedabad high speed rail (HSR) corridor. The loan has been sanctioned at an annual interest rate of 0.1 per cent. Besides, the annual interest rate for consulting services is 0.01 per cent and the repayment period for the loan is 50 years along with a grace period of 15 years. The project involves the development of a 508.17 km long Mumbai-Ahmedabad HSR corridor in Maharashtra and Gujarat at an investment of Rs 1,080 billion.
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