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ADB provided 110-m Dollars loan for Urban Services in Jammu &Kashmir

May 20, 2013 12:29 IST

The Asian Development Bank (ADB) in Month of May 2013 has provided a 110-million Dollars loan to Jammu and Kashmir in order to help in improving urban services, including water supply.

As per Asian Development bank, more than two million people in the two cities are supposed to be benefitted from improved access to water supply, functional drainage systems and better road facilities.

The second portion of the loan under the Jammu and Kashmir Urban Sector Development Investment Programme will help develop infrastructure for solid waste management, drainage and transport in Jammu and Srinagar.

Some Points to Remember

• The Centre will provide counterpart funds of 71 million Dollars for a total project investment cost of 181 million under this tranche. The ADB loan has a 25-year term including a grace period of five years.
• The project will support the State to increase average water supply in Jammu from 90 litres per day per capita to 135 litres per day per capita through rehabilitation and improvement of infrastructure.
• It will also support to reduce inner city traffic congestions, resulting in positive economic impacts.

Is this article important for exams ? Yes21 People Agreed
Read more Current Affairs on: Asian Development Bank (ADB) , Jammu &Kashmir.

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