Infrastructure,Infrastructure sector projects by Public Work Department in

5667

Public Work Department

The Government of India and Asian Development Bank (ADB) today signed an agreement for a $ 200 million loan for the Uttarakhand Emergency Assistance Project. The signatories to the loan agreement were Mr Nilaya Mitash, Joint Secretary (Multilateral Institutions), Department of Economic Affairs, Ministry of Finance, on behalf of the Government of India; and Ms. M. Teresa Kho, Country Director, INRM, on behalf of ADB. The project agreement on behalf of the State Government was signed by Mr Rakesh Sharma, Additional Chief Secretary (PWD), Government of Uttarakhand and Mr Bhaskaranand Joshi, Secretary, State Disaster Management Authority (SDMA). Speaking on the occasion, Mr Mitash said that the project would assist the Government of Uttarakhand to meet reconstruction needs arising out of the flash floods that caused large-scale devastation in the state in June 2013. He said that the project would help the State to rehabilitate/construct the damaged roads, bridges, urban infrastructure and will also help by improving disaster preparedness. It will help economic and social recovery in Uttarakhand in the aftermath of the disaster, he added. An official press release said the project’s objective is to improve economic and social conditions in Uttarakhand after the 2013 disaster. The project will (i) rehabilitate and/or reconstruct damaged sections of state highways and/or district roads for a total length of 1,800 kilometers (km) along with 16 damaged bridges, and will also rehabilitate sections of roads built in the past with ADB finance (total length 600 km); (ii) repair and upgrade water supply facilities in 8-10 towns, water treatment plants, 56-km water pipeline, and about 20 km of urban roads; (iii) rehabilitate and/or reconstruct tourism infrastructure in 5 districts, including 10 trekking routes, eco-trails, rest houses, and public amenities; and (iv) build about 50 helipads, heliports, or helidromes with associated amenities for emergency evacuation and relief operations. The project is expected to be completed by 30th September, 2016. The loan of $200 million from ADB’s ordinary capital resources makes up to 97.56% of the total project cost of $205 million, with the Central And State Government providing counterpart finance of US $5 million. Uttrakhand being a Special Category State the loan assistance to the State will be on 90:10 basis (90% grant and 10% loan).The loan has a 25-year term, including a five-year grace period with an annual interest rate determined in accordance with ADB`s LIBOR-based lending facility.

INR 1247.42 Crore /-

Fund Mobilization Stage

Uttarakhand

India

Infrastructure,Infrastructure