Odisha state government signed MoU with Kfw of Germany
Odisha state government signed a MoU with KfW, a development bank of Germany to avail a concessional long-term loan for strengthening urban infrastructures. According to the MoU, the German-based bank would provide low cost and long-term funds worth Rs 440 crore for a period of 10 years to take up projects like energy efficient street lighting, reclamation and development of water bodies, solid waste management, sewerage systems, water supply, stormwater drainage across 113 urban local bodies (ULBs).
Earlier, the state government had signed an agreement on August 2, 2012, for seeking a loan amount of Rs 400 crore. The fund is being utilized through Odisha Urban Infrastructure Development Fund (OUDIF), an agency under the state housing and urban development department.
KfW loan apart, the state government also sanctions amount as a grant to take up the urban infrastructure projects. Besides, funds from schemes like Atal Mission for Rejuvenation and Urban Transformation (AMRUT), Swachh Bharat Mission and Pradhan Mantri Awas Yojana are also being utilized for transforming the urban areas.
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