• About Us
  • Contact Us
  • Our Team
  • Advertising
  • Privacy Policy
  • Terms of Service
Saturday, April 1, 2023
Lake City Times
No Result
View All Result
  • Top News
  • Region
  • City News
  • Politics
  • Business
  • Health
  • Edit-Oped
  • Tourism
  • National
  • World
  • ePaper
  • Top News
  • Region
  • City News
  • Politics
  • Business
  • Health
  • Edit-Oped
  • Tourism
  • National
  • World
  • ePaper
No Result
View All Result
Lake City News
No Result
View All Result
Home Top News

World Bank grants one year extension to Rs 1500 crore project in JK

'Remarkable progress in past 2.5 years; 75 % sub-projects completed'

LCT Desk by LCT Desk
February 16, 2023
in Top News
Reading Time: 2min read
A A
Share on FacebookShare on TwitterWhatsappTelegram

Nasir Azam

Srinagar, Feb 15: Noting the remarkable progress made over the last 2.5 years, the World Bank has extended the deadline for completion of its Rs 1500 crore project in Jammu & Kashmir by one more year, but made it clear to the Central Government and J&K authorities that any works not completed by December 31, 2023 would need to be completed with the government’s own resources.
In a letter to Union Finance Ministry and J&K administration, the World Bank has accepted the Union Finance Ministry’s request to extend the deadline of the project to December 31, 2023.
“We also refer to the letter from the Department of Economic Affairs, Ministry of Finance F.No. 05/06/2014-FB.VIII/V dated December 19, 2022, requesting the Association to extend the Closing Date of the Credit by 12 months. We are pleased to inform you that the Association concurs with the request and has established December 31, 2023, as the later date for purposes of Section IV.B.2 of Schedule 2 to the Financing Agreement,” reads the letter written by WB’s Hideki Mori, Acting Country Director, India to Rajat Kumar Mishra, Additional Secretary (MBC), Department of Economic Affairs Ministry of Finance and Arun Kumar Mehta, Chief Secretary, J&K.
But the WB has made it clear to them that any works of the project not completed by the closing date of December 31, 2023, including for L.D. Hospital, Srinagar, would need to be completed with the government’s own resource.
After the 2014 floods, the Jhelum-Tawi Flood Recovery Project (JTFRP) was approved by the World Bank in June 2015 for reconstruction of the damaged public sector infrastructure and strengthening J&K’s disaster management mechanism.
The closing date of the Rs 1500 crore project was June 30, 2020, which has been extended to December 31, 2023. The project has faced multiple challenges, including COVID-19, which led to substantial implementation delays.
According to the World Bank, the project has shown remarkable progress over the last 2.5 years in improving the pace of public infrastructure construction, completing livelihood support activities, implementing CERC component activities to boost healthcare services for COVID response, and augmenting disaster preparedness capabilities One of the notable contributions of the project has been the installation and commissioning of 30 oxygen generation plants in rural areas of J&K which include areas like Gurez, Tangdar and Bani basoli. The project has committed 100% of the credit with signed contracts including the cost variations and funds earmarked for implementation support.
Out of 213 contract packages under the project, 159 (74 percent) have been completed till December 15, 2022. These includes completion of: 41 schools and higher education buildings, 10 road packages, one bridge, silk and wool factories and showroom with new machineries; procurement and deployment of: mobile pumps, search and rescue equipment; and trainings and technical support to handloom and handicrafts sector and artisans; and several technical studies and assessments.

READ ALSO

J&K’s economic growth vibrant: Chief Secretary

Lt Governor chairs meeting of Shri Amarnathji Shrine Board

Share this:

  • Twitter
  • Facebook

Related Posts

Top News

J&K’s economic growth vibrant: Chief Secretary

April 1, 2023
J&K’s economic growth vibrant: Chief Secretary

Jammu, Mar 31: Chief Secretary, Dr Arun Kumar Mehta Friday released the Economic Survey 2022-23 of the UT, a document...

Read more
by LCT Desk
0 Comments
Top News

Lt Governor chairs meeting of Shri Amarnathji Shrine Board

April 1, 2023
Lt Governor chairs meeting of Shri Amarnathji Shrine Board

Jammu, Mar 31: Lieutenant Governor Manoj Sinha chaired the 44th meeting of Shri Amarnathji Shrine Board (SASB) at Raj Bhawan,...

Read more
by LCT Desk
0 Comments
Top News

Almost 10,000 pilgrims from J&K to perform Hajj this year

April 1, 2023
Hajj 2023 to be cheaper by 80k, each pilgrim to pay Rs 3.80 lakh

Owais Gul Srinagar, Mar 31: A close to 10,000 people from Jammu and Kashmir will perform the sacred pilgrimage of...

Read more
by LCT Desk
0 Comments
Top News

Rs 83536 crore liabilities yet to apportioned between J&K, Ladakh

April 1, 2023
Rs 83536 crore liabilities yet to apportioned between J&K, Ladakh

Nasir Azam Srinagar, Mar 31: The Rs 83,536 crore liabilities of the erstwhile state of Jammu & Kashmir are yet...

Read more
by LCT Desk
0 Comments
Top News

Govt orders transfer, posting of 4 JKAS officers

April 1, 2023
Govt orders reshuffle of 9 top IPS officers

Srinagar, Mar 31: The Jammu and Kashmir government on Friday ordered transfer and postings of four JKAS officers with immediate...

Read more
by LCT Desk
0 Comments
Health

Fasting detoxifies body, decreases risk of diabetes: Doctors

April 1, 2023
Fasting detoxifies body, decreases risk of diabetes: Doctors

Jahangeer Ganaie Srinagar, Mar 31: The month of fast along with blessings bring health benefits for people, experts said. Doctors...

Read more
by LCT Desk
0 Comments
Next Post
Deptt of Information launches public competition for redesigning of its logo

Deptt of Information launches public competition for redesigning of its logo

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • About Us
  • Contact Us
  • Our Team
  • Advertising
  • Privacy Policy
  • Terms of Service

© 2021 Lake City Times - Premium theme by GITS.

No Result
View All Result
  • Top News
  • Region
  • City News
  • Politics
  • Business
  • Health
  • Edit-Oped
  • Tourism
  • National
  • World
  • ePaper

© 2021 Lake City Times - Premium theme by GITS.