Govt. of India signed an agreement with Asian Development Bank (ADB) for a $60 million loan

Govt. of India signed an agreement with Asian Development Bank (ADB) for a $60 million loan [ 7/19/2013]

Government of India signed an agreement with Asian Development Bank (ADB) for a $60 million loan for improving urban services and strengthenmunicipal and project management capacity in several towns in North Karnataka. The agreement is for the 3rd Project under the overall facility of $270 million for the North Karnataka Urban Sector Investment Program (NKUSIP).

The third tranche loan under the North Karnataka Urban Sector Investment Program will develop sewerage networks in six towns, and help the rehabilitation and expansion of potable water systems in two more towns. More than 100,000 households will benefit from the improvements.

Obama nominates Indian-American Nisha Biswal as assistant secretary of state for South Asia [ 7/19/2013]

President Barack Obama nominated Nisha Desai Biswal, an accomplished Indian-American administrator, to head the South Asia bureau in the US state department. Desai will become the first person of Indian or even South Asian origin to head the bureau, which oversees US foreign policy and relations with India, Pakistan, Bangladesh, Afghanistan, Sri Lanka, Nepal, Maldives and Bhutan.

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Current Affairs (Events) 2013

India and World Bank Sign Us$ 216 Million Agreement for Kerala State Transport Project [ 6/27/2013]

The Loan and Project Agreements for World Bank (IBRD) assistance of US$ 216 million for Second Kerala State Transport Project were signed between Government of India/Government of Kerala and World Bank at New Delhi today.

The Loan Agreement was signed by Shri Nilaya Mitash (Joint Secretary,Department of Economic Affairs) on behalf of Government of India and Mr. Onno Ruhl, Country Director, World Bank (India) on behalf of the World Bank. The Project Agreement was signed by Shri T.O. Sooraj, Secretary, Public Works Department on behalf of the Government of Kerala.

The Objective of the project is to improve road conditions, traffic flow androad safety with a focus on vulnerable road users on selected roads in Kerala.

Government Approves 16 Proposals of Foreign Direct Investment Amounting to About Rs.1646.875 Crore [ 6/18/2013]

Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on May 10, 2013, the Central Government has approved sixteen (16) proposals of Foreign Direct Investment (FDI) amounting to Rs.1646.875crore approximately.

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