ADB lends $60 mn to govt for investment in north Karnataka

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SME Times News Bureau | 20 Jul, 2013
The government Friday inked an agreement with Asian Development Bank (ADB) for a $60 million loan for improving urban services and strengthening municipal and project management capacity in several towns in north Karnataka.

The agreement is for the third project under the overall facility of $270 million for the North Karnataka Urban Sector Investment Programme (NKUSIP).

The third tranche loan under the North Karnataka Urban Sector Investment Programme will develop sewerage networks in six towns and help the rehabilitation and expansion of potable water systems in two more towns. More than 100,000 households will benefit from the improvements.

Nilaya Mitash, joint secretary, department of Economic Affairs, said the project will help the state to improve quality of life in towns like Bidar, Davanagere, Dharwad, Gadag-Betegeri, Gulbarga, Jamkhandi, Sindhanur and Yadgir in north Karnataka and promote economic growth.