Japan has pledged to provide India with a grant aid of over Rs 72.86 crore to fund a project, which is expected to cut the length of traffic congestion in Bengaluru by 30% over the next five years.
Kenji Hiramatsu, Tokyo's envoy to New Delhi, and S Selvakumar, Joint Secretary in Ministry of Finance in Government of India, on Wednesday signed and exchanged the notes for Japanese Government's grant aid for implementation of Advanced Traffic Information and Management System in Bengaluru.
Tokyo committed a grant aid of 1.276 billion Japanese Yen (Rs 72.86 crore approximately) for installing the Advanced Traffic Information and Management System, including signalling devices and traffic congestion length measurement sensor, in the heart of Bengaluru.
"It is expected that this project will contribute to strengthening connectivity and industrial competitiveness of the local economy by improving traffic congestion and urban environment," the Ministry of Finance said in a press release after the exchange of notes on Wednesday.
The project is expected to be completed by 2019.
The traffic congestion in Bengaluru is currently reaching the length of 550 metres in the worst cases.
A note issued by the Embassy of Japan in New Delhi stated that the Advanced Traffic Information and Management System would cut the length of the traffic congestion in Bengaluru by 30% by 2022 three years after completion of the project particularly at the interchanges currently witnessing worst traffic jams.
The new system in Bengaluru will utilize the advanced technology provided by Japan. A spokesperson of the Embassy of Japan said that the new system would "contribute to enhancing the convenience of urban transportation and revitalizing the local economy".