ADB to fund India for enhancing services in JK

Singapore, June 1: The Asian Development Bank (ADB) is supporting an investment programme requested by India to help improve the delivery of basic services in Jammu and Kashmir, to sustain economic growth in the region through better urban infrastructure services and management.

It is also providing 320 million-loan-dollar to rehabilitate and reconstruct 1,800 kilometres of state road in Madhya Pradesh.

''The programme will expand water supply, sanitation, waste management, urban transport, and other municipal functions in Jammu, Srinagar and other vital towns and commercial centres of Jammu and Kashmir, improving public health, the living environment and employment opportunities for the 2.4 million people ,'' ADB's Principal Urban Development Specialist in the India Resident Mission Alex Jorgensen said.

''It will also improve the capacity of participating institutions to manage sector reforms and deliver better services,'' Mr Jorgensen said.

ADB is funding the programme through a 300-million-dollar loan facility to cover the bulk of the 485-million-dollar programme cost.

The funding under the investment programme will be available in stages, through four successive loans, until December 2015.

Depending on the speed of reforms and the capacity of the State to implement the works, the proposed number of individual loans under the programme could be increased to five or six.

ADB funding will come from ordinary capital resources.

The ADB will also provide one-million-dollar technical assistance grant to help the Madhya Pradesh government in improving the state's road network and enhancing the state's capacity for road asset development and management.

''This project will connect major towns in the state, improve access to socio-economic services, increase employment opportunities and improve means of transport services,'' said ADB Transport Specialist Hiroaki Yamaguchi, adding that in turn, the project will promote economic growth and human development, and reduce poverty in the state.

UNI