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Uttaranchal to get 800 million dollar ADB aid

Written by: Staff
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Dehra Dun, July 6 (UNI) Asian Development Bank (ADB) has agreed to provide 800 million dollar financial assistance to Uttaranchal for the power, road and urban development of the state.

The assurance in this regard was today given to Chief Minister N D Tiwari at his residence by the team of ADB officials, including Director General Manila K Senga, Country Director India T Kondo, Director for South Asia Richard Vokes.

The 300 million dollar ADB loan sanctioned earlier for energy sector has been enhanced to 450 million dollar, implementation of which would be in phased manner and would complete in seven years, a release issued here said.

Similarly, loan negotiations for the road sector assistance of 300 million dollars from basic schedule had been enhanced to 55 million dollars.

Expressing his gratitude to the ADB, Mr Tiwari urged for further aid in raising tourism and horticulture infrastructures and new generation projects in energy sector.

UNI XC VJ KN1814

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