The Asian Development Bank (ADB) will provide soft loans worth about 276 million US dollar for e- Delivery of Public Services Development Policy Loan, improving power transmission in Madhya Pradesh and to deal with problems caused by floods in the Brahmaputra river in Assam. In this connection, three agreements were signed in New Delhi between ADB and the Ministry of Finance. In a press release,the Finance Ministry said the ADB will provide 150 million US dollar for e- Delivery of Public Services Development Policy Loan under the national e- governance plan of the government aimed at transforming service delivery system across the country. While 69 million US dollar will be given to Madhya Pradesh Power Sector Investment Programme (MPPSIP). It will assist the Madhya Kshetra Vidyut Vitaran Company reduce power transmission and distribution losses in 117 towns. As per the third agreement, ADB will provide 56.9 million US dollar towards Assam Integrated Flood and Riverbank Erosion Risk Management Investment Programme which will help mitigate the disruption to life and livelihoods and the huge economic losses that are caused by periodic floods in the Brahmaputra river.
News On AIR | May 10, 2011 9:06 PM
India Signs Loan Agreement Worth $ 56.9 Million with ADB to tackle Floods Problems in Assam