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TS to seek 60k cr loan from BRICS
The Telangana government has decided to forward a ‘long list’ of proposals seeking nearly Rs 60,000 crore fund from New Development Bank BRICS (Brazil, Russia, India, China, South Africa) head quartered in Shanghai, China for infrastructure development projects being taken up in the state as well as in Greater Hyderabad Municipal Corporation (GHMC).
Hyderabad: The Telangana government has decided to forward a ‘long list’ of proposals seeking nearly Rs 60,000 crore fund from New Development Bank BRICS (Brazil, Russia, India, China, South Africa) head quartered in Shanghai, China for infrastructure development projects being taken up in the state as well as in Greater Hyderabad Municipal Corporation (GHMC).
The government will send the proposals within 15 days to the Centre requesting them to forward to the Bank after giving counter guarantee. The list, according to sources, includes elevated highways, multi-storied buildings and sewage and drinking water supply projects in GHMC and HMDA (Hyderabad Metro Development Authority) areas costing nearly Rs 35,000 to Rs 40,000 crore.
Another Rs 30,000 crore worth projects relate to solid waste management, irrigation and energy sectors to be taken up in other parts of the state. “We envisaged plans keeping in mind the improvement of basic infrastructure and civic amenities required for the city in the next 25 years,” a senior official told The Hans India after the meeting chaired by State Chief Secretary Rajiv Sharma with senior officials of the Finance and Municipal Administration and Urban Development.
The official said in about a week’s time they would send the proposals for final nod of the Chief Minister. Thereafter, it would be forwarded to the Centre. It may be mentioned here that during his visit to China in September last year, Chief Minister K Chandrasekhar Rao requested NDB President K V Kamath and Vice-President Xian Zhu for financial assistance to execute urban development projects in Telangana.
As the Bank already announced the schedule for the disbursement of the funds from April this year to India, the official said the TS has to fulfill all norms and conditions prescribed by the bank before March end to get the first installment of loans.
