[Urbanstudy] Silk route, and no jokes - Bangalore Mirror
esgindia at gmail.com
Thu Jan 12 20:50:09 CST 2017
Not sure how a senior official of the State can make such a claim. The project is not even properly conceptualised to move it through statutory clearances mechanisms, and already banks have lined up to finance? Something is very very fishy here.
And just the other day the Chief Justice of India pulled up State and Central Govts for the decades old mess in the Narmada projects.
The loan burden of these proposed road projects is equal to that in the Sardar Sarovar Dam.
"To carry out the Phase II works, BMRCL is borrowing heavily from foreign agencies. The project to build metro networks on 72 kilometers would cost Rs 26,000 crore. In addition to the financial allocation from the Central and state governments, BMRCL is also borrowing from foreign agencies like Asian Infrastructure Investment Bank, European Investment Bank and Agence Francaise Development (AFD). BMRCL claims that EIB and AFD have given in- principle approval to provide Rs 7,200 crore."
Leo F. Saldanha
Environment Support Group
1572, Ring Road, Banashankari II Stage
Bangalore 560070. INDIA
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