Assam is all set to benefit immensely with three leading financial institutions – Asian Development Bank (ADB), Japan International Cooperation Agency (JICA) and World Bank – to fund about Rs 28000 crore for various development projects in the state.
The Assam Municipal Development Project costing around Rs 1400 crore is to be funded by World Bank.The upcoming project has been approved by NITI Aayog.
Assam will also achieve a boost in the tourism sector as the ADB will fund the Rs 720 crore International Circuit Development Project in the tourism segment that has already been cleared and given a no-objection by the Ministry of External Affairs.
Apart from the tourism development project, ADB will also fund two other development projects-Assam Road Network Improvement Project and the Assam Power Distribution Enhancement System.
While the Assam Road Network Improvement Project costs around Rs 4000 crore, the Assam Power Distribution Enhancement System costs around Rs 3200 crore. However, both these projects are yet to be approved.
The Assam Road Network Improvement Project is waiting for approval from DoNER ministry and Ministry of Transport and Highways and Assam Power Distribution Enhancement System is also yet to be approved by DoNER ministry.
The Rs 3400 crore Assam Fishery Development and Livelihood Project is also set to be funded by JICA.