Japan Bank for International Cooperation has suspended considering two financial proposals from an Indian navaratna company.

In a major set-back to Indian navaratna company National Thermal Power Corporation, the Japanese international public bank has suspended two investments proposals which brought serious financial complications to two coal based power projects in Odisha and Uttar Pradesh.

JBIC said “our financial considerations for Darlipali (Odisha) and Tanda (Uttar Pradesh) plants are suspended, due to economic conditions”.

There were complaints filed against NTPC for its serious human rights violations and non-compliance of environmental laws.

National Campaign for Ending Corporate Abuse and Japan Center for a Sustainable Environment and Society (JACSES) had requested JBIC’s intervention. “End construction work of Darlipali and Tanda plants immediately”, Subash Mohapatra demanded. He welcomed the decision taken by JBIC for suspending the financial proposals from NTPC.