The Hindu : Other States / Jammu & Kashmir News : J&K to get $358 million aid

Online edition of India's National Newspaper
Wednesday, Mar 16, 2005

Other States

Other States - Jammu & Kashmir

J&K to get $358 million aid

By Shujaat Bukhari

JAMMU, MARCH 15: Jammu and Kashmir is all set to enter into a new phase with the Asian Development Bank on the verge of releasing 250 million dollars for the multi sector project to be taken up by the State Government. The Centre will pay its share of 150 million dollars as grant.

Top government sources told The Hindu that proper loan agreement between ADB and government of India as also the project agreement between the State Government and ADB will be signed in New Delhi on March 17.

Known as Jammu and Kashmir Multi Sector Infrastructure and Rehabilitation Project, the work under this ambitious plan of the Chief Minister Mufti Mohammad Sayeed will be executed through newly created Economic Reconstruction Agency (ERA). The second agreement will be signed on behalf of State government by B.R. Singh, Chief Executive Officer of ERA.

According to details, the ADB had agreed to release its share forthwith along with the share of 158 million dollars which will be borne by the Central Government but given as grant to the State. "The State may have to shell out 10 per cent of this amount but it will not be a problem," a senior official said. Under this project each part of State is poised to see a revolution in the development especially the reconstruction of infrastructure which was damaged during the last 15 years of violence, particularly in Kashmir valley. The areas to be covered under the project include roads,

bridges, drainage and water supply. This would be followed by a separate project for sewerage in the cities of Srinagar and Jammu.

This project to be executed over four-and-a-half years will be the first major task of the ERA which was created last by the State Government. It is meant for handling the externally aided projects.

"We have time until 2009 to implement the project on the ground but I am sure we will be able to

finish the works in three years time," said Mr. Singh adding that the State will see a sea change in the development. "This project will benefit the State a lot by helping to overcome the crisis of funds," he said.

When asked about the priorities of the works to be taken up, Mr. Singh said the project is governed by the guidelines of ADB. The heads of District Development Boards and Deputy Commissioners will finalise the proposals for their respective district.

They will be identifying the projects keeping in view their own priority on the basis of area and population.

Printer friendly page
Send this article to Friends by E-Mail

Other States

News Update

Stories in this Section

J&K to get $358 million aid