Meghalaya govt to avail ADB loan for implementation of Support Human Capital Development Phase-II

Syllad | The Rising MeghalayaOctober 24, 2024

The state Cabinet on Wednesday approved the proposal for availing loan from Asian Development Bank for implementation of the project – Support Human Capital Development in Meghalaya – Phase – II.

90 percent of the loan amount will be sanctioned as a grant to the state, which will be repaid by the centre and 10 percent of the loan amount will be borne by the state.

Informing this after the meeting, cabinet minister Ampareen Lyngdoh said, “The Cabinet was pleased to approve this proposal for availing loan from the Asian Development Bank for implementation of the project – Support Human Capital Development in Meghalaya Phase II.”

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“As per the cabinet note, the government will now avail a 90 percent grant from the ADB and out of this entire loan, 10% of it is the loan which the government of Meghalaya will pay in the long run. 90% of this loan will be paid or borne by the central government as has been done or the practice all these years,” she stated.