Business Daily from THE HINDU group of publications Thursday, Sep 07, 2006 |
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Money & Banking
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RBI & Other Central Banks Industry & Economy - Natural Calamities States - Tamil Nadu ADB happy with tsunami recovery projects Our Bureau
Chennai , Sept. 6 A team from the Asian Development Bank (ADB) led by Mr Kunio Senga, Director General, ADB, South Asia Department, has suggested that Tamil Nadu involve more people in the projects on tsunami recovery funded by it. Briefing presspersons after a two-day visit of the project sites in Kanchipuram and Cuddalore, Mr Senga said that a project of such magnitude spread across the coastal areas would need more people to implement. The ADB has suggested that the State Government involve more people in the projects.
Recovery Projects
Mr Senga said that the team was happy with the progress of the recovery projects. For instance, in the sites he had visited, which had been affected in the tsunami that struck the coast in December 2004, housing facilities had been completed. He said that though ADB was involved in medium-term recovery projects such as livelihood restoration and not in funding housing projects or initial relief and rescue, it was the correct sequence. Now that the immediate needs had been met, the livelihood restoration process funded by ADB was on and some concrete results would start. Officials said that the State Government has agreed to involve more people in the projects to expedite them. The Tamil Nadu Finance Minister, Mr K. Anbazhagan, said that the ADB has committed over Rs 629 crore to Tamil Nadu for the tsunami recovery programmes. Of this, 53 per cent including Rs 218.96 crore for restoration of livelihood and Rs 100 crore for the drinking water project were grants. The balance was in the form of loan to be repaid over 32 years.
More Stories on : RBI & Other Central Banks | Natural Calamities | Tamil Nadu
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