Some Development Loans Sanctioned Recently

Recently a few loans were sanctioned/ approved for Indian states for development projects. A summary:
  1. $ 100 Million to Mizoram by Asian Development Bank
    Mizoram will get $ 100 Million from Asian Development Bank. The loan will be utilized to strengthen the service delivery in the social sector (Education & Health) under the aegis of a state programme called Mizoram Public Resource Management Programme (MPRMP)
  2. $ 330 Million to Haryana by World Bank
    World Bank will give $ 330 million to Haryana to strengthen the power transmission and distribution system in the state. This loan is of 30-year maturity including a five-year grace period.
  3. $ 200 Million Loan from ADB for North East India
    On August 8, 2009 Government of India signed a loan agreement of $ 200 million with Asian Development Bank for developing urban infrastructure in 5 capital cities of North-Eastern states and the East-West highway project under North Eastern Urban Development Programme (NEUDP)

What is North Eastern Urban Development Programme (NEUDP) ?
North Eastern Region Urban Development Programme (NERUDP) will be implemented by the Ministry of Urban Development (MoUD) in two phases.
Phase – I covers capital cities of 5 North Eastern States viz. Agartala (Tripura), Aizawl (Mizoram), Gangtok (Sikkim), Kohima (Nagaland) and Shillong (Meghalaya). Total Cost of this phase I of project is $ 285.7 million.
The states of Arunachal Pradesh, Assam and Manipur would be covered in Phase – II.
The project (Phase-I) was approved by the Cabinet Committee on Economic Affairs (CCEA) in its meeting held on February 26, 2009
From where will come $ 285.7 milllion?
Out of this amount $ 87.5 million will be borne by Government of India through Gross Budgetary Support (GBS) of the MoUD (Ministry of Urban Development). Remaining 70% cost of the project (i.e. $200 million or INR 960 crore) will be given by ADB as loan and passed on by the MoUD to the participating States through its budget.

Is it a Loan or Grant ?
90% of the project cost (i.e. $ 257.1 million or INR 1234.1 crore) will be passed on to the participating states as grant and 10% (i.e $ 28.6 million or INR 137.3 crore) loan.

Random Articles

Comments

  • guru
    Reply

    the new look of your website is good but it vil take me some time to get used to this new look as it is more professional and more commercial look like other websites.