JKIFDC To Avail Rs 1000 Cr Loan To Fund Projects

Agreement Signed With Indian Overseas Bank

Jammu- After facing little hiatus for last few months, the Jammu and Kashmir Infrastructure Development Finance Corporation (JKIDFC) Limited has entered into an agreement for raising loan of Rs 1000 crore with the Indian Overseas Bank thereby resolving the issue of funding of the Languishing Projects which are under execution at various levels of completion.

This is a very important step which shall pave way for timely and smooth clearance of payments for completion of these projects in a transparent manner, an official spokesperson said.

He said that the Additional Chief Secretary, Finance and CMD JKIDFC in his message further added that the implementing departments/PIAs, which are already on the job for completion of these languishing projects shall now speed up the pace of work on all these projects and ensure completion of all these projects with regular monitoring

“This endeavour is believed to usher a new era of infrastructure development in the UT of J&K leaving almost no project to languish further for want of funds now,” he added.

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