NewsID: 65 Author Muhammad Azhar, PRO Dated 17 May 2013
Subject ADB and GOI sign $110 million loan agreement for tranche-2 of (JKUSDIP).
Asian Development Bank (ADB) and Government of India today signed an agreement for a $110 million loan for tranche-2 of JKUSDIP (Jammu and Kashmir Urban Sector Development Investment Program) being executed by Jammu and Kashmir Economic Reconstruction Agency(J&K ERA). The project includes up gradation and improvement of basic urban services like water supply, drainage, urban transportation, solid waste management etc in the capital cities of Jammu and Srinagar and will directly benefit more than two million people living the two capital cities.
The loan agreement to this effect was signed in New Delhi between Nilaya Mitash, Joint Secretary (Multilateral institutions), DEA (Department of Economic Affairs) Ministry of Finance on behalf of Government of India and Hun Kim, Country Director (ADB) (India) on behalf of Asian Development Bank. The related project agreements were signed by Saurabh Bhagat, Chief Executive Officer, J&K ERA on behalf of Govt. of J&K and Shaugafta Qazi, Director Finance,J&K ERA on behalf of J&K ERA.
Speaking after the signing ceremony Mitash said” The project will support the state to increase the availability of per capita safe drinking water from current level of 90 litres/day/capita to 135 litres/day/capita and will also help to reduce inner city traffic congestions thus resulting in positive economic impacts”.
Hun Kim, Country Director (India) (ADB) while terming J&K ERA as one of the best executing agency for ADB funded projects in India said that project also aims at providing for more efficient and accountable O&M (operation and maintenance) of water supply and sewerage services in the two capital cities and will also include a component for capacity development of for the staff and representatives of urban local bodies to enable them to provide better services.
Economic Reconstruction Agency 