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ADB approves $100 Million loan for Mizoram
Wednesday, 19 August 2009, 23:26 IST
Aizawl: The Asian Development Bank (ADB) will give a $100-million loan to India's northeastern state of Mizoram for strengthening service delivery in the social sector, officials said here Wednesday.
"Under the Mizoram Public Resource Management Programme (MPRMP), the ADB credit would be utilised for strengthening service delivery in the education and health sectors," Vanlalruata, additional secretary at the state finance department, told reporters.
"The advance would also help the government create fiscal space by taking steps to raise additional revenue from tax and non-tax sources, and improve debt management, including pre-payment of high cost loans," he said.
The bank's board of directors sanctioned the loan Tuesday in Manila, Vanlalruata said.
ADB had earlier agreed to provide 
1,371.4 crore to the North Eastern Urban Development Programme (NEUDP) to improve basic municipal services in the capital cities of Agartala, Aizawl, Shillong, Gangtok and Kohima in the region.
"The Mizoram government has demonstrated strong political commitment to undertake financial reforms. ADB is pleased to support these efforts," said Ashok Sharma, director of the financial sector, public management and trade division of ADB's South Asia department.
Sharma added that the reforms would "support, among other things, improvements to the state health insurance scheme by targeting more efficient service in a cost-effective manner".
Revamping the state's costly pension scheme is another priority, while the MPRMP would seek to overhaul loss-making public sector enterprises, he added.
According Vanlalruata, funds would also be allocated for a voluntary retirement scheme for under-qualified teachers in primary and secondary schools as part of ongoing efforts to improve the education sector.
Source: IANS
1,371.4 crore to the North Eastern Urban Development Programme (NEUDP) to improve basic municipal services in the capital cities of Agartala, Aizawl, Shillong, Gangtok and Kohima in the region.
"The Mizoram government has demonstrated strong political commitment to undertake financial reforms. ADB is pleased to support these efforts," said Ashok Sharma, director of the financial sector, public management and trade division of ADB's South Asia department.
Sharma added that the reforms would "support, among other things, improvements to the state health insurance scheme by targeting more efficient service in a cost-effective manner".
Revamping the state's costly pension scheme is another priority, while the MPRMP would seek to overhaul loss-making public sector enterprises, he added.
According Vanlalruata, funds would also be allocated for a voluntary retirement scheme for under-qualified teachers in primary and secondary schools as part of ongoing efforts to improve the education sector.
Source: IANS