ADB Loan Is Must For Infrastructure Development: J R Lobo

ADB Loan Is Must For Infrastructure Development: J R Lobo

Submitted by Subeditor on Mon, 2015-12-21 18:12 Mangaluru: Responding to the allegations raised by the opposition pertaining to ADB loan, Mangaluru South MLA J R Lobo clarified that the allegation is wrong and statistics shows that MCC's loan is very nominal when it compare to other city corporations in the state. Addressing the mediapersons at his office, Lobo said, “in order to provide basic amenities like drinking water facilities, underground drainage system among others, taking loan from ADB is must and there is nothing wrong in it. Though MCC has received a total of Rs 378 crore from ADB in the financial year of 2014-15, there will be 50 percent government's grant. Among the remaining 50 percent amount, 40 percent is loan and MCC's share is only 10 percent. There is no truth that all amount received by the ADB should be repaid by the MCC only``, he said. Under second installment loan from ADB, MCC will receive Rs 340 crore in which Rs 190 crore will be spend upon the drinking water facilities and remaining Rs 150 crore will be spend on providing underground draining system. The areas under city corporation will not be developed if MCC would not take loan from ADB. The cities like Ahmedabad, Surat,Baroda, Mumbai among others have been developing by using the financial support of ADB. The loan of MCC is very less when compare to these cities in our country``, Lobo said. Informing about Atal Mission for Rejuvenation and Urban Transformation (AMRUT) scheme which aims at providing basic amenities like water supply, sewage management, building storm water drainage, transport management among others Lobo said, ``the corporation has sent Rs 160 crore proposal to the Union government under Amrut scheme, in which a total of Rs 148 crore will be spend upon sewage management, storm water drainage system among others. The work will be undertaken on the priority basis and the new drainage connection will be provided to all areas before the onset of the monsoon``, he promised. Mayor Jasinta Vijaya Alfred, corporators Harinath Bondel and Deepak Poojary were present.