Sunday 19 May 2013



ADB signs $110 mn loan pact to improve infra in Sgr, Jmu
New Delhi, May 17: The Asian Development Bank (ADB) and Indian Government have signed an USD 110 million loan agreement for improving urban services, including water supply, in Jammu and Srinagar.  The second tranche loan under the Jammu and Kashmir Urban Sector Development Investment Programme will also help develop infrastructure for solid waste management, drainage and transport in the state. In a statement, ADB said more than two million people in two cities will benefit from improved access to water supply, functional drainage systems, and better road facilities. "The project will support the state to increase average water supply in Jammu, from 90 litre/day/capita to 135 litre/day/capita through rehabilitation and improvement of infrastructure," said Nilaya Mitash, Joint Secretary in the Department of Economic Affairs.
ADB Country Director Hun Kim said the project would ensure sustainable service delivery and bring efficiency and accountability in the functioning of urban development.
The loan would be for 25 years, and would include a grace period of five years. Manila-based ADB extends assistance for reducing poverty in Asia and the Pacific through inclusive economic growth and regional integration. Established in 1966, it has 67 member countries. In 2012, ADB assistance totalled USD 21.6 billion.
Source: http://www.risingkashmir.in/news/adb-signs-110-mn-loan-pact-to-improve-infra-in-sgr-jmu-47397.aspx

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