The Uttarakhand government today said it would sign an agreement with the Manila-based Asian Development Bank (ADB) for getting a loan of $350 million to boost infrastructure facilities in the hill state.
The announcement came following a meeting of the state Cabinet which approved the ambitious $500-million (about Rs 2,431 crore) project, under which infrastructure facilities like roads, bridges, water supply and sanitation system would be strengthened in 31 cities and towns of the state.
The remaining $150 million (about Rs 728 crore) would be provided by the state government, Chief Secretary Indu Kumar Pandey said.
The meeting was presided over by Chief Minister B C Khanduri.
Since Uttarakhand enjoys the special category status, the government would have to repay only 10 per cent of the total loan paid by the Asian Development Bank. The rest of the amount would come as a grant.
The agreement is expected to be signed early next month, Pandey said.
The cities where the government intends to strengthen infrastructure facilities include Dehra Dun, Nainital, Haridwar, Haldwani, Mussoorie, Rishikesh, New Tehri, Pauri and Almora.
