Japan freezes grant aid
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13/05/1998
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Business Standard (New Delhi)
Japan yesterday froze all annual grants-in-aid to India, which were worth 3.5 billion yen (Rs 93.9 crore) in fiscal 1997 and hinted that even its loans, which amounted to 132.7 billion yen (Rs 3,924 crore), would be stopped.In a diplomatic slight to India, Japan also declined to host the Indian development Forum (IDF) meet which was scheduled to be held in Tokyo on June 30 July 1, 1998. It also reiterated its demand that India should immediately stop conducting nuclear tests and sign both the NPT and the CTBT.