(a) whether the Union Government have negotiated Rs.
870 crore line of credit with the Asian Development
Bank (ADB);
(b) if so, the details thereof;
(c) the terms and conditions in this regard; and
(d) the manner in which this amount is likely to be utilised?
MINISTER OF STATE FOR FINANCE (SHRI BALASAHEB VIKHE PATIL)
(a) A loan assistance of US $ 180 million for the
Surat manor Tollway Project was negotiated in January,
1999 and the Board of Directors of Asian Development
Bank have approved the loan on 27th July, 2000.
(b) The loan is to be disbursed by ADB to National
Highways Authority of India upto 30.9.2004 against
claims submitted by them after the loan agreement is
signed and declared effective.
(c) The loan is repayable in 25 years, including a
grace period of 5 years. The interest will be
determined according to ADB`s pool-based variable
lending rate system for US dollar loans.
(d) The loan will be used to finance the civil works
contracts and the consulting services for construction supervision.