ADB OKs $100 mln loan to support Assam fiscal reform programme
Wednesday, Sep 17
.
NEW DELHI - The Asian Development Bank has provided a $100 mln
loan to
Assam government to support its fiscal reform programme.
This is the second loan provided by ADB for the state's fiscal
reform
programme.
The Manila-based multilateral funding agency had provided a $150
mln loan
for fiscal reforms in the state between 2005 and 2007.
In addition to the ADB loan, Japan Special Fund will provide a
technical
assistance of $600,000 for the programme. The state government will
contribute a further $150,000, ADB said in a release.
The programme will focus on taking steps to improve expenditure
and debt
management systems and close down a number of loss-making public
sector
enterprises in the state, the release said.
"The aim is to improve the state government's financial
flexibility and
ensure that the available fiscal space is utilised to more actively
promote
social and physical infrastructure development," it said.
The state's revenue deficit has turned into a surplus following
the
fiscal reforms undertaken between 2005 and 2007.
The ADB loan will be released in three tranches--$40 mln each in
the
first and second tranches, and $20 mln for the third.
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