Union Cabinet approved Memorandum of Cooperation (MoC) on Sustainable Urban Development between India and Japan by suspending the existing MoU of 2007 on Urban Development.
How MoC will be implemented?
To implement and strategize programmes on cooperation under MoC, a Joint Working Group (JWG) will be constituted. JWG will meet once in a year in Japan as well as in India, alternately. Cooperation under MoC will continue for a period of 5 years, which can be auto-renewed for 5 years at a time.
Significance of the MoC
It will promote strong, deep and long-term bilateral cooperation with respect to Sustainable Urban Development between India and Japan. It is expected to create employment opportunities in listed areas of sustainable urban development including Urban Planning, affordable housing, rental housing, Smart Cities Development, Urban Flood Management, water management, Sewerage & Waste Water Management etc.
Objective of MoC
It seeks to facilitate and strengthen India-Japan technical cooperation in field of Sustainable urban development and other listed areas which will be mutually identified by both the countries. It will also enable exchange of key learnings and best practices in listed areas.