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Hussain Sagar lake clean-up funding: JBIC team arrives

Our Bureau

Hyderabad , Sept. 14

GOING a step further in the Hussain Sagar lake clean-up operation, a high-level fact-finding mission of Japan Bank for International Co-operation (JBIC) is on a five-day visit here to finalise a Rs 270-crore loan.

The two-member team, comprising Mr Ichiguchi Tomohide, Deputy Director (Development Assistance Department) and Mr Shinmura Takashi, Deputy Director (Sector Strategy Development Dept), is holding a series of discussions with the officials of the State Government and Hyderabad Urban Development Authority (HUDA).

The JBIC team met Mr Koneru Ranga Rao, Minister for Municipal Administration and Urban Development, here on Monday. At the end of the visit, the Japanese delegation is expected to finalise the project strategy leading to an agreement between the two governments for funding the restoration of the lake.

The total cost of the restoration project is estimated at Rs 316 crore, including the JBIC loan component of Rs 270 crore. The soft loan would attract an interest rate of 1.3 per cent.

The project envisages improving the drainage in the catchment area, setting up additional water treatment plants and establishing eco-tourism projects on the banks.

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