8 New Projects of ULBs get approval for OUIDF Assistance
Bhubaneswar, Sep 4: Odisha Urban Infrastructure Development Fund (OUIDF) assisted projects must lead to more revenue generation along with qualitative improvement in delivery of services directed Chief Secretary Sri Gokul Chandra Pati while presiding over the Board of Trustees Meeting held in the office premises of OUIDF located in Fortune Towers.
Chief Secretary has advised Housing & Urban Development Secretary Sri G. Mathivathanan, present in the meeting to constitute a Standing Committee to review the efforts made by Urban Local Bodies (ULBs) in this direction. Sri Pati has also advised Additional Chief Secretary Finance Sri R.Balakrishnan, present in the meeting to benchmark the minimum limit for revenue generation by various ULBs.
The Board considered the projects submitted by various ULBs for grant and loan assistance and gave in principle approval to 8 projects proposed by various ULBs. These projects include Reclamation of 14 water bodies in Bhubaneswar, Reclamation of 7 water bodies in Sambalpur, Rehabilitation project of slum and informal settlements for economically weaker sections at Chandrasekharpur, Bhubaneswar, Housing for all for economically weaker section at Ghatikia, Bhubaneswar, Augmentation of water supply to Gapalpur NAC, Water supply project of Berhampur Municipal Corporation and Integrated solid waste management projects at Berhampur.
Outlining the financial details of these projects, Sri Sisira Kumar Ratho, Chief Executive of OUIDF said that in total these projects involve the investment of Rs.605 cr. out of which OUIDF grant is around Rs. 160 cr. OUIDF loan is around Rs. 153 cr. The balance money for the projects will come from the equity and bank loan arrangement by the project developers.
It may be pertinent here to mention that OUIDF has been set up for financing the urban Infrastructural projects like water supply, sewerage, street light, drainage, solid waste management, slaughter house, affordable housing for economically weaker sections, slum development, basic services to urban poor etc. This has come to being through a Government of Odisha initiative with assistance from Kreditanstalt für Wiederaufbau (KFW) Bank of Germany in the form of a Line of Credit and Technical Assistance support to develop and finance urban infrastructure projects having environmental implications.
The Board of Trustees is headed by the Chief Secretary with six other Trustees who collectively manage and administer the affairs of the Trust and Trust Funds. OUIDF has already sanctioned around Rs.241 cr against 9 projects during 2013-14 and 2014-15. Out of this around Rs.181cr has been sanctioned as loan and Rs. 60 cr has been given as grant to various ULBs in the State.
The Development Commissioner Sri Upendra Nath Behera, Additional Chief Secretary, Finance Sri R. Balakrishnan Chief Executive OUIDF Sri Sisir Kumar Ratho, Financial advisor Sri Ranchandra Kara, Project Manager Sri B.P. Rayguru along with other members of the board participated in deliberations.