ADB to give India $2 Million for infrastructure
Wednesday, 22 October 2008, 16:15 IST
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New Delhi: The Asian Development Bank (ADB) will provide India a $2 million technical assistance grant to help develop public-private partnership (PPP) projects in the areas of urban development, transportation, water, health and education, it was announced Tuesday. The assistance will cover all aspects of project structuring - including institutional, financial, commercial, legal, social, environmental and technical structuring - leading to a competitive bid process to attract private sector participation. ADB's technical assistance is complemented by the India Infrastructure Project Development Fund (IIPDF), a facility of the Indian government. "The ADB-IIPDF partnership will play a crucial role in actually demonstrating the benefits of PPPs through setting forth replicable PPP models with well-balanced risk and bankability structures," said Anouj Mehta, senior infrastructure finance specialist at ADB's Indian Resident Mission, in a statement issued in Manila Tuesday. The Planning Commission has estimated that India requires investment of about $500 billion between 2007 and 2012 to bridge the current infrastructure deficiencies.
Source: IANS
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