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World Bank approves $147 mn loan to Jharkhand
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SME Times News Bureau | 25 Jun, 2019
The World Bank on Tuesday approved a $147 million loan agreement to
provide basic urban services to the people of Jharkhand and help improve
the management capacity of the urban local bodies (ULBs) in the state.
"The
Jharkhand Municipal Reform Programme will focus on improving the
municipal sector's capacity to provide basic urban services. It will
invest in urban services such as water supply, sewerage, drainage, and
urban roads; and strengthen the capacity of the Jharkhand Urban
Infrastructure Development Company (JUIDCO) as well as that of the ULBs
to carry out reforms in the areas of urban finance and governance," an
official statement said here.
This is in keeping with the needs
of a rapidly urbanizing state where about 31 million people reside in
urban areas and urban population growth in nine of the 24 districts in
Jharkhand is above India's overall urbanization pace of 2.7 per cent.
Speaking
on the occasion, Sameer Kumar Khare, Additional Secretary, Department
of Economic Affairs, Ministry of Finance, said: "The government of India
recognizes that urbanization and economic growth are interlinked and
initiated a comprehensive road map for municipal reforms through the
AMRUT scheme."
He added that the Jharkhand Municipal Reform
Programme will be a definite step forward to strengthen and improve
urban services in a fast urbanizing state and will provide an impetus to
economic growth.
Most of these components will be open to all 43
ULBs in the state who may wish to participate within an agreed
framework under the project. Over 350,000 urban residents of the
participating ULBs are expected to benefit, of which at least 45 per
cent will be women.
Interventions such as piped water supply,
storm water drains, climate friendly road construction and energy
efficient street lighting will not only help improve urban services but
also make it environmentally sustainable.
Work on the Khunti water supply sub-project and the Dhanbad roads sub-project is expected to commence shortly.
The
loan, from the International Bank for Reconstruction and Development
(IBRD), has a seven-year grace period, and a final maturity of 22.5
years.
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