Govt seeks $137mn from ADB for infra development in J&K,K'taka

The Centre has signed agreements with Asian Development Bank (ADB) for grants worth USD 136.8 million for infrastructure development in Jammu & Kashmir and Karnataka.
In one of the agreements, the government has sought a USD 60 million loan to help improve water supply and urban transport infrastructure in Jammu & Kashmir.
"This loan from the ADB's Ordinary Capital Resources has a 25-year term including a grace period of five years," said a Finance Ministry release.
This is the third tranche loan under the Jammu & Kashmir Urban Sector Development Investment Program and it aims to supplement the urban infrastructure up-gradation scheme initiated under Project 1 and Project 2.

"About half-a-million people in Srinagar and Jammu will benefit from improved access to water supply, functional drainage systems and better transport infrastructure," the release said.
As per two other separate agreements, ADB will provide USD 75 million and USD 1.8 million loans, carrying a term of 25 years, for improving water resource management in three towns in Karnataka in Upper Tungabharda sub-basin.

The loan agreement aims to improve water resource management in urban areas, modernise and expand urban water supply and sanitation, it said.
"Innovative instruments, such as public-private partnership (PPP) or reform oriented incentive funds will also be pursued. The programme will seek to assist more fragile environments increasingly affected by water resource degradation often located in North Karnataka.

"It will also promote climate-resilient development, capacity-development for conducive adaptation," the release said.