Japan International Cooperation Agency (JICA) had come forward to lend loan for the primary infrastructural facilities in the upcoming capital of Andhra Pradesh. JICA officials met Senior government officials of AP government on Wednesday and evinced their interest to give loan in big amounts.
They have primarily discussed about the projects requiring the loans. Chief Minister Chandrababu Naidu may fly to Japan and South Korea in 4-5 weeks and is expected to meet JICA higher-ups there. He is expected to sign some MOUs with JICA then.
JICA will fund for the mega projects like Metro Project, Roads, Sanitation etc. However obtaining these loans are not easy as there is a cap on loans that can be obtained by a state according to Fiscal Responsibility and Budget Management (FRBM) act. We will have to see how far the Center will help the state in this respect.