USD 71 mn loan for water projects in Madhya Pradesh

USD 71 mn loan for water projects in Madhya Pradesh
Manila, Oct 14: The Asian Development Bank (ADB) has approved a USD 71-million supplementary loan for an urban water supply project in Madhya Pradesh, the Manila, Philippines-based lender said Tuesday.
The project aims to improve the water supply services, sewerage and sanitation services, storm-water drainage, and solid waste management in major cities of Madhya Pradesh including Bhopal, Gwalior, Indore, and Jabalpur, ADB said in a statement.
The cities are trade, commerce, and tourism hubs, where growth potentials are constrained by poor water and sewerage infrastructure systems.
ADB and India signed a $181-million loan agreement in March 2005 to support the project. However, progress was hampered by slow awarding of contracts, which eventually led to a huge cost overrun due to rupee appreciation and price increases since the project appraisal in 2003.
"Without the additional funding, the project in its original scope cannot be completed, and the integrity of the urban infrastructure system for water supply, sewerage, and waste disposal will be severely undermined," said Hiroyuki Ikemoto, an Urban Economist at ADB's South Asia Department.
The ADB loan is payable in 20 years with interest rate determined in accordance with ADB's London Interbank Offered Rate-based lending facility, according to the statement.

3 killed in police firing in BJP-ruled MP town following communal clashes; shoot-at-sight orders issued, Congress demands judicial probe

Bajrang Dal ban is not a remedy: Popular Front

18000 IT-enabled CSCs set up in rural India, roll out completed in Jharkhand & Haryana

MP Govt. starts confabulations with experts over introduction of
Public-Private Partnership in school education

About 34 lakh villagers get employment under NREGS in MP

BHEL, Bhopal unit ED releases 'Management Ke Sabaq' book

BSNL launches mobile backup in two states

Orissa-like terror stalks Christians in Karnataka interiors: Dr. Dayal

MECOM held at BHEL Bhopal unit

Aryavrat announces BRITISH PARK launch

Nothing wrong in fighting terror cases: Madhya Pradesh bar council

BHEL Bhopal Unit achieves yet another milestone