Search: Look for:   Last 1 Month   Last 6 Months   All time
Home :: World

$71 mn loan for water projects in Madhya Pradesh

Asia, Tue, 14 Oct 2008 IANS

Manila, Oct 14 (Xinhua) The Asian Development Bank (ADB) has approved a $71-million supplementary loan for an urban water supply project in Madhya Pradesh, the Manila, Philippines-based lender said Tuesday.


The project aims to improve the water supply services, sewerage and sanitation services, storm-water drainage, and solid waste management in major cities of Madhya Pradesh including Bhopal, Gwalior, Indore, and Jabalpur, ADB said in a statement.



The cities are trade, commerce, and tourism hubs, where growth potentials are constrained by poor water and sewerage infrastructure systems.



ADB and India signed a $181-million loan agreement in March 2005 to support the project. However, progress was hampered by slow awarding of contracts, which eventually led to a huge cost overrun due to rupee appreciation and price increases since the project appraisal in 2003.



'Without the additional funding, the project in its original scope cannot be completed, and the integrity of the urban infrastructure system for water supply, sewerage, and waste disposal will be severely undermined,' said Hiroyuki Ikemoto, an Urban Economist at ADB's South Asia Department.



The ADB loan is payable in 20 years with interest rate determined in accordance with ADB's London Interbank Offered Rate-based lending facility, according to the statement.


Read More: Jabalpur | South Goa

Manohar Lal being presented with a memento
Manoj Tiwari BJP Relief meets the family members of late Ankit Sharma
Haryana CM Manohar Lal congratulate former Deputy PM Lal Krishna Advani on his 92nd birthday
King of Bhutan, the Bhutan Queen and Crown Prince meeting the PM Modi
PM Narendra Modi welcomes the King of Bhutan
Post comments:
Your Name (*) :
Your Email :
Your Phone :
Your Comment (*):
  Reload Image




Excellent Hair Fall Treatment
Careers | Privacy Policy | Feedback | About Us | Contact Us | | Latest News
Copyright © 2015 NEWS TRACK India All rights reserved.