JBIC plans to fund civil amenities in Punjab

The Japan Bank of International Corporation (JBIC), a leading Japanese financial institution, has come forward with a plan in the social sector of the state, estimated around Rs 3,000 crore, to provide 100 per cent water supply and sewerage in the major cities of Punjab.

Project benefits would be accessible to major towns like Amritsar, Jalandhar, Ludhiana and Patiala. In the first phase, Rs 360 crore has been kept for complete water supply, sewerage connectivity and garbage disposal for the holy city of Amritsar.

"JBIC would recover their investment along with the nominal rate of interest of 0.75 per cent over a period 30 years with a ten year moratorium. Supply of safe portable water, sewerage connectivity to 100 per cent houses of urban habitats would be the first priority of this project", sources in the Punjab government said.