(a) Whether Asian Development Bank has rapped India
for delay in implementation of various projects;
(b) If so, whether Asian Development Bank has asked
India to submit its audited report;
(c) whether India had received 57 Asian Development
Bank loans worth 7.88 billion dollars;
(d) if so, the interest likely to be paid on these
loans;
(e) whether loan has been utilised; and
(f) the time schedule for completion of these
projects?
MINISTER OF STATE FOR FINANCE (SHRI BALASAHEB VIKHE PATIL)
(a), (b), (c) & (e) Implementation of projects is
regularly monitored by the Bank and reviewed jointly
in a tripartite meeting between Ministry of Finance,
Asian Development Bank (ADB) and implementing agencies
so as to assess areas for improvement for timely
implementation of projects.
During the last review it has been found that out of
26 on-going projects, 25 are satisfactory or partly
satisfactory and one is not satisfactory in terms of
implementation. Submission of audit report of the
project to ADB by the executing agencies is one of the
requirements under the Loan. As on 31.7.2000, India
has received 51 loans through ADB public sector window
amounting to US $ 7.897 billion out of which US $ 5.91
billion has been utilised.
(d) Interest on ADB loans is based on a variable
interest rate as fixed by ADB on six monthly basis. A
provision of Rs. 622.80 crores (US $ 141.900 million)
has been made in the Budget for the payment towards
interest on ADB assisted projects for financial year
2000-01.
(f) The project completion period varies from project
to project. Generally, this period is between five
to seven years.