Union Government on 30 December 2014 signed a loan agreement with Asian Development Bank (ADB) for a 60 million dollar Jammu and Kashmir (J&K) Urban Sector Development Investment Program (JKURSDIP).
This loan from the ADB has a 25 year term including a grace period of five years.
The funds will be used to improve urban services in two key cities of Jammu and Kashmir, namely Jammu and Srinagar. The funds will be used to improve urban services, like
• Water supply
• Urban transport infrastructure
The urban infrastructure up-gradation program initiated under the projects will benefit about half-a-million people in Srinagar and Jammu. It will support the state in ensuing increase average water supply, from 90 liter/day/capita to 135 liter/day/capita through rehabilitation and improvement of infrastructure. This would also help in substantial reduction of water logging in project areas.
When: on 30 December 2014