Japan to provide around 900 crore to IIT-Hyderabad
Japan will provide 17.7 billion yen (around 900 crore INR )for the development of phase two of the Indian Institute of Technology, Hyderabad (IIT-H), the biggest-ever foreign aid to any IIT, money will be spent for Campus Development Project of the institute.
It was announced after Prime Minister Manmohan Singh’s meeting wit1h Japanese Prime Minister Sinzo A be during Singh’s ongoing visit to Japan. Japan will also provide financial support to Indian Institute of Information Technology, Design and Manufacturing in Jabalpur (IIITDM-J) as well as in reestablishment of Nalanda University.
IIT-H will be using money for the development of infrastructure which will include state-of-the-art buildings, a special technology centre, new academic blocks and a research park besides various other expansions. The two Prime Ministers also welcomed the steps being taken by both sides to further enhance science and technology cooperation between the Department of Science and Technology (DST), Ministry of Science and Technology of India and the Ministry of Education, Culture, Sports, Science and Technology (MEXT) of Japan.
The two Prime Ministers reconfirmed the importance of educational cooperation between the two countries. The two Prime Ministers expressed satisfaction at progress of cooperation for the Indian Institute of Technology, Hyderabad (IIT-H) and the Indian Institute of Information Technology, Design and Manufacturing in Jabalpur (IIITDM-J) with Japanese support.
Prime Minister Singh appreciated Japan’s intention to contribute to Nalanda University including through the yen loan for the improvement of road access to the University, as well as its support for Peace Studies in the University.