ADB loan agreed to avoid minister's resignation: CPI

Thiruvananthapuram, Feb 23 (UNI) The Communist Party of India (CPI), a constituent in the Left Democratic Front (LDF) in Kerala, which strongly protested against taking an ADB loan, today said only minor changes had been effected in the agreement signed between the Bank and the state government for availing the loan for Urban development.

''It was agreed upon in yesterday's LDF meeting that certain lapses had taken place while dealing with the issue. Only certain minor changes had been made in the previous agreement,'' CPI state secretary Veliam Bhargavan told reporters here.

The CPI had supported the decision to avail the loan only to avoid the resignation of Local Administration Minister Paloli Mohammedkutty. The LDF had been asked not to repeat such things in future, he added.

The LDF had yesterday given the green signal to the government to accept the ADB loan.

The CPI and the Revolutionary Socialist Party had earlier voiced their concerns against taking loans from foreign agencies. The CPI had said the conditions of the ADB loan were unacceptable as it would put a heavy burden on the people. The RSP also echoed similar opinion.

UNI