The Asian Development Bank (ADB) has consented to provide funds to Kolkata
Municipal Corporation (KMC) for undertaking infrastructure development projects
in the city.
The ADB is expected to provide a loan of Rs 2,500 crore to KMC. The funds are
to be sanctioned under the Phase II of the project. Currently, DPR is being
prepared for the Phase II and is expected to submit the same to the ADB soon.
Under the Phase I, various infrastructure improvement works like development
of sewer lines and providing drinking water are being carried out in the added
areas and eastern areas of the city. For the Phase I, funds worth Rs 1,800 crore
were sanctioned.
Also See:
ADB
keen to finance TAPI gas pipeline project (27-September-10)