Stronger rupee affects ADB's loan

Bhopal, July 30 (UNI) With rupee growing stronger in international market, several development projects of the Bhopal Municipal Corporation (BMC) being funded by loan from the Asian Development Bank (ADB) could be adversely affected.

BMC sources said 21 projects are being carried out with the support of the ADB. Tenders had been floated and work orders issued.

The BMC was worried that less amount would be received with rupee growing stronger, as the amount was sanctioned in terms of dollar.

This would affect the budget by 20-25 per cent.

Sources said drinking water-related projects would not be allowed to be affected. However, waste management-related projects could get affected.

''While preparing the schemes, price rise was kept in mind, but it was not expected that difference in dollar and rupee would emerge''.

Officials expressed concern about this matter during a meeting -- chaired BMC Mayor Sunil Sood today -- for reviewing these schemes.

Suggestions came forth to obtain more loan from the ADB to fill the gap.

UNI