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WB to seek ADB loan

Written by: Staff

Hyderabad, May 4 : The West Bengal Government proposes to seek a loan of Rs 5,830 crore over five years from the Asian Development Bank (ADB) on mutually agreeable conditions, State Finance Minister Asim K Dasgupta said today.

Participating in the 'Advantage India Day' seminar at the ongoing 39th annual meeting of the Board of Governors of ADB here, Mr Dasgupta said the assistance, amounting to 1.3 billion USD, will cover irrigation, drainage, roads, bridges, industrial estates and technical education.

Besides, there were specially important investments in infrastructure relating to Kulpi Port, SEZ, greenfield international airport, deep sea port and elevated light rapid transport System in and around Kolkata requiring about 5.6 billion USD.

''These projects will further uplift the production, employment and trade potential of West Bengal and make it attractive for FDI.

There may be also an appropriate public private partnership (PPP) model in these spheres.'' West Bengal could then be able to clock ten per cent annual growth rate in gross state domestic product (GSDP) by 2010.

To make West Bengal the food bowl of India by 2010 and also a agri-business and agro-industry hub, the proportion of net irrigated area to the net agricultural area had to be increased from the present 69 per cent to 90 per cent. This required huge investments in irrigation facilities and drainage schemes.

Programmes for development of roads and bridges can be tied up with the setting up of road-side ''industrial cluster facilities'' for encouraging industrial growth and employment generation.


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