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J & K seeks aid from global donor agencies

By Shujaat Bukhari

JAMMU, FEB. 21. The Jammu and Kashmir Government has sought help from leading international and donor agencies for reconstructing the infrastructure damaged in the State during the past 14 years of militancy. It will be utilised through the newly set up Economic Reconstruction Agency (ERA).

The State's Economic Adviser, Haseeb Drabu, said international agencies such as the World Bank, the International Bank for Reconstruction and Development (IDRD) and the Asian Development Bank (ADB) had been approached for granting funds out of post-conflict fund earmarked for the conflict areas worldwide.

Over Rs. 1,700 crores had already been sanctioned by the ADB which would start flowing to the State from June this year. It had demanded an additional grant of $500 millions from the ADB, which was likely to be approved. The same was the case with the World Bank and other agencies, Dr. Drabu said.

Justifying the decision to seek help from International agencies, he said they had been working in conflict areas, including Afghanistan and Bosnia, and ``I see no reason why we should not qualify for that; after all we have suffered much due to militancy.'' Lauding the Centre, he said it had been very helpful in this regard and there were no impediments as of now. These funds would supplement the State plan and give impetus to developmental works, which had been at the lowest ebb in the past few years.

For streamlining these funds and their judicious utilisation, the Finance Minister, Muzaffar Hussain Baig, has already announced the setting up of the Economic Reconstruction Agency (ERA) in his budget speech on Friday. The Agency will be headed by a Chief Executive Officer, most likely to be a leading expert in planning and development. Further the State Government has requisitioned from the Centre five officers of the Indian Administrative Service (IAS) who will look after the new process of rebuilding the State.

Dr. Drabu, himself a leading economist, said the funds under the ERA would be spent on focussed projects. In the coming years, the Government envisaged a lot of development in the State.

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