Singapore, Sep 22 (UNI) Asian Development Bank (ADB) is helping National Capital Region Planning Board (NCRPB) come up with effective ways of allocating money to upgrade the infrastructure system in districts in and around New Delhi.
The Japan Special Fund, through the Manila-based ADB, is extending a 7,00,000 dollar grant to lay the groundwork for the NCRPB Project.
The Indian Government is providing an assistance of 1,75,000 dollars for the project that spans 14 districts in one of India's key economic hubs, according to the ADB statement today.
The area's population has risen sharply over the past decade as India's economic boom attracted many migrant labourers in search of work. However, the water supply, sewerage and sanitation infrastructure has not kept pace and urban centers have become overcrowded with many slum areas. The whole area covers almost 34,000 sq kms.
''Without adequate investment in priority urban infrastructure, economic growth in the NCR might go slow. It is also required to improve the quality of life of the urban poor,'' said Sekhar Bonu, the Senior Urban Development Specialist of ADB's South Asia Department.
The NCRPB acts as a lender to state governments, urban local bodies, housing boards, development authorities and other state-owned enterprises for infrastructure works. It has estimated it will need to provide loans of around Rs 11000 crore over the next five years to carry out infrastructure projects, earmarked under its regional development plan.
The technical assistance will be used to assess the investment requirements of the NCRPB, and to design a lending program that will enable it to effectively roll out its infrastructure development program.
The aim of the project is to improve the quality of basic urban services in the NCR; to reduce continued migration to the capital, New Delhi; to develop the capacity of smaller towns in the region to absorb a greater share of the population; and to accelerate economic growth.
UNI XC SR DS1140