New Delhi, Nov 12 (KNN)  In a bid to strengthen the strategic and global partnership between the two countries, Japan today committed to an amount of Yen 30.703 billion (Rs 1958.85 crore) for the first batch of the Japan International Cooperation Agency (JICA) Overseas Development Assistance (ODA) loan package to India for two projects.

The notes in this regard were exchanged here between Joint Secretary, Department of Economic Affairs, Ministry of Finance, Rajesh Khullar and Ambassador of Japan to India Takeshi Yagi.

The loan amount includes Rs 1129.45 crore for the Campus Development Project of Indian Institute of Technology (IIT), Hyderabad (Phase 2) and Rs 829.40 crore for the Tamil Nadu Investment Promotion Programme, an official press release said.

"India and Japan have had a long and fruitful history of bilateral development cooperation since 1958.  In the last few years the economic partnership between India and Japan has steadily progressed," said an official release. (KNN/SD)