Financial Daily from THE HINDU group of publications
Friday, May 12, 2006
Financial Daily from THE HINDU group of publications Friday, May 12, 2006 |
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Industry & Economy
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Economy States - Andhra Pradesh AP seeking JBIC loan for irrigation projects Our Bureau
Hyderabad , May 11 The Andhra Pradesh Government is pursuing a Rs 1,400-crore loan from the Japanese Bank for International Cooperation (JBIC) for Krishna and Godavari delta modernisation projects. This is part of the major Government drive to increase the cultivable area in the State and expand it from the current 72-lakh hectares to about 150 lakh hectares by 2009. Speaking to Business Line, the State Irrigation Minister, Mr Ponnala Lakshmaiah, said the State was pursuing this loan and several other Central loans to ensure that various ongoing irrigation projects and new projects are grounded by the year 2009. "Earlier, the State had negotiated with the Austrian Government to fund new irrigation projects. But we would not like to pursue this any more. The issue related to a counter guarantee from the Centre, which both the Centre and the State are not in favour of," he explained. Referring to the Nagarjuna Sagar canal modernisation, the Minister said the World Bank had approved a Rs 2,500-crore loan. This would help extend the reach of the canal to more areas within the dam ayacut.
Large projects
With regard to implementation of large projects that also meant displacement and rehabilitation, the Minister said this called for a coordinated effort. The first phase of the work initiated by the State had yielded excellent results, and this has enthused financial institutions and overseas lenders to fund some of the irrigation projects.
More Stories on : Economy | Andhra Pradesh | Agriculture
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