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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