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World Bank-funded project | 43% of Rs 1448 cr works yet to be tendered J&K may lose ‘sizeable chunk’ of funding

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J&K could lose a “sizeable chunk” of financial assistance under World Bank-funded reconstruction plan owing to its “lethargic approach” in implementation of the program.

Documents in possession of Greater Kashmir revealed that projects worth Rs 624 crore (43%) were yet to be tendered under the program despite directions by the financial institution to the State Government to finalise tendering by 30 September 2019.

In June 2015, the World Bank had approved more than Rs 1500 crore as funding for different projects after its team visited flood-affected areas of the State to carry out a multi-sectoral assessment report of the damages and needs. While Rs 1448 core were approved for the projects and consultancy, the remaining funding was meant for institutional support.

it was agreed upon that Government of J&K would finalise all the tenders by September 2019 and thereafter would submit a concrete work plan to Department of Economic Affairs,” reads a communication from  Union Finance Ministry to Chief Executive Officer, JehlumTawi Flood Recovery Project which is the project monitoring unit for the program.

Now, the J&K has been directed to submit concrete work plan to Union Finance Ministry’s Department of Economic Affairs (DEA) in the first week of October. The department deals with externally funded projects.

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