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International relations

Japan pours on loans to India for infrastructure projects

Tokyo offers record single-year aid to key ally with $1.4bn in fresh financing

Japanese Foreign Minister Taro Kono

TOKYO -- Japan will lend India up to 149.2 billion yen ($1.4 billion) for projects such as a subway in Mumbai, further boosting its aid for economic development in the South Asian country.

Foreign Minister Taro Kono and his Indian counterpart, Sushma Swaraj, reached the funding agreement Thursday during talks here. Japan will do all it can to promote India's development, Kono said at a joint news conference after the meeting, calling the country Tokyo's most important partner in the Indo-Pacific region.

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