The Hindu Business Line : `AP to look at ADB funds at appropriate time'

The one major ADB pipeline project, which is of interest to the State for strengthening credit cooperative societies, would figure in the discussions

Hyderabad , May 3

How does Hyderabad benefit from hosting the Asian Development Bank (ADB) meet? Has the State Government made concrete proposals to secure funding for its ambitious projects?

Confronted by these questions, three senior Ministers in the Andhra Pradesh Government on Wednesday took pains to explain the opportunity it provided for the State to showcase its strength as an investment destination.

The more than 3,000 international delegates would generate considerable revenue in the tourism sector. The one major ADB pipeline project, which is of interest to the State for strengthening credit cooperative societies, would figure in the discussions, the Minister for Finance and Health, Mr K. Rosaiah, said.

There are no proposals to secure funding from the ADB for projects at present. Most of the funds required for the irrigation, agriculture and infrastructure projects taken up by the State Government are being sourced from other agencies.

"We will definitely consider looking at ADB funds at an appropriate time," he said. Are conditionalities of ADB on loans more favourable than the World Bank, with which the present Cong (I) Government had difficulties? To this Mr Rosaiah said, "We have to examine the ADB conditions and also depending on the specific projects conditions are varying. We will take the best option from any source."

The State Chief Minister, Dr Y.S. Rajasekhara Reddy, who would speak in one of the main sessions on Thursday, would definitely promote the State. Areas such as food and agro industries, pharma, biotech, information technology and manufacturing would be emphasised, the Ministers, Mr Rosaiah, Mohammed. Shabbir Ali and Ms Geeta Reddy, said.

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