J&K received limited multilateral funding from ADB since 2014: GoI

Srinagar, Mar 30: Jammu and Kashmir has received limited multilateral funding from the Asian Development Bank (ADB) since 2014, with official data showing only one loan-backed project sanctioned for the Union Territory during the period.
The written reply furnished by Minister of State for Finance Pankaj Chaudhary in Lok Sabha, stated that as per the data, Jammu and Kashmir was sanctioned an ADB-assisted project—Jammu and Kashmir Urban Sector Development Investment Programme (Project-3)—with a total loan amount of USD 60 million. The agreement for the project was signed on December 30, 2014.
The data further revealed that J&K accounts for only one project under ADB funding since 2014, and the assistance was extended purely in the form of a loan, with no grant component.
The project falls under the urban infrastructure sector, aimed at strengthening civic services and urban development in the region.
In comparison with several other states that have received multiple projects and higher funding volumes, J&K’s share in multilateral assistance remains minimal in terms of both project count and overall funding.
The government informed Parliament that all proposals seeking multilateral assistance from states and Union Territories are processed through the Department of Economic Affairs, which grants clearance before approaching international funding agencies.
The reply also stated that the total number of loan and grant agreements signed by multilateral agencies since 2014, along with state-wise details, has been compiled and placed on record.
The data indicates that while Jammu and Kashmir continues to be part of multilateral funding frameworks, the scale of assistance remains limited and focused on specific development sectors. (KNO)