SHILLONG:
Chief Minister Conrad K Sangma, on July 21, informed that the Meghalayan Age Limited (MAL), a state government company under the aegis of the Planning Department will be the implementing agency in the Rs 730 crore Externally Aided Project (EAP) fund, as the agency has the expertise in the field.
“The New Development Bank (NDB), which is the funding agency, has mandated that an independent agency should be in place to take up the project, and hence we have the Meghalayan Age taking up the project.” he said.
Sangma said that the fund is not a loan to the state, and 80 percent is a loan to the Government of India, and the centre will pay it back. “80 percent grant is given to us, and we have to spend only 20 percent, and these banks when they discussed the fund set a condition that an independent agency should take up the project,” Sangma said.
Asked if the Meghalayan Age has the expertise to take up the project, Sangma said that there are different consultants on board and because of the expertise, and the good work that the government is doing in different Externally Aided Projects (EAPs), Meghalaya is one of the better performing states in EAPs.
“We are getting the highest number of EAPs in the North East among the smaller states, so, that is the reflection of the fact that we have the expertise and the manpower to take up such projects,” Sangma said.
He also informed that the Rs 730 crore fund secured by MAL for developing tourism infrastructure in the state is a project that has been in the pipeline for a long time.