September 07, 2008

ADB to provide USD 1.85 billion aid to NE States

Projects Today reported that Asian Development Bank is likely to allocate a total of around USD 1.85 billion for the northeastern states for a period of 3 years. The cities to be covered under this program are Agartala, Aizawl, Shillong, Kohima and Gangtok.

According to the business plan, the ADB will provide USD 550 million to the northeastern region during 2009 for programs like North East States Integrated Food Control and River Erosion Mitigation Project, Assam energy efficiency enhancement project.

For 2010, the ADB approved about USD 650 million for funding projects which include North East Region Urban Development Investment Program and North East National Highway Investment Program.

ADB has earmarked USD 250 million aids for development of cities in the region. In addition, during 2008 the bank will provide USD 100 million for Assam Governance and Public Resource Management and USD 300 million for roads development program. Under the Assam Governance Program, the agency will provide funds to the state government to help it increase revenue and improve fiscal performance, whereas under the Northeastern Region Capital Cities Development Investment Program, the agency will provide funds to improve the quality of urban living conditions and enhance urban productivity.