Trivandrum, India (INS News) — Kerala State may get an assistance of 250 million dollars assistance from Asian Development Bank for its various programmes.
A memorandum of understanding in this regard likely to be signed on March next year.
Mr.Frank Paulman, Chief of the Public Resources of Asian Development Bank with other officials of Netherlands which also considering assistance to the State, held talks with Chief Minister A.K. Antony, Finance Minister S. Sankaranarayanan, and Industries Minister P.K. Kunjalikutty.
The Bank had clarified that the assistance would not be for projects but programmes including fiscal reforms. The team made it clear in the discussions that the quantum and disbursement will strictly depend in the structural reform of the state. Already two consultants of Asian Development Bank, an Australian and Bangalore based institute studying the contours of State finance.
Chief Minister briefed the team about the reforms being initiated by its Government at different levels to restructure the state finance, including publication of White paper on Finances. The team reportedly expressed satisfaction over measures taken by the state.
The Government is committed to reforms in Finance ,more on structural interventions in infrastructure, industry, information technology and Labour sector, Chief Minister informed the team.
This is the second high Level discussions Government had with Asian Development Bank.