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J&K govt appreciated for implementation of world bank projects

Last Updated on October 23, 2020 at 10:24 pm

The Department of Economic Affairs (DEA), Union Ministry of Finance, Government of India, praised Jammu and Kashmir Government for the successful implementation of World Bank-funded projects under ‘Jhelum Tawi Flood Recovery Project’ (JTFRP).

The DEA has recorded praise for the project implementation in the minutes during the Tripartite Portfolio Review Meeting (TPRM) between DEA, World Bank, and the Project Authority.

During the review meeting, the DEA noted the improvement in the project implementation after the restructuring of the project in June this year. It was observed that most of the vital developmental works have resumed post-COVID-19 lockdown. The meeting also observed that there is now weekly monitoring of the project with a weekly update of the Management Information System (MIS).

The meeting further lauded the JTFRP for augmenting the social safeguard during the project. Notably, the DEA during TPRM held on June, 16, 2020 had confirmed a one year extension to the project closing date till June 31, 2021. It was also recorded in the meeting that there has been tremendous progress in the project in the last one year and it should be maintained. According to the meeting an amount of 50 million USD has been allocated to the CERC component.

“We have gone ahead of the previous disbursement targets set by the DEA,” said Chief Executive Officer, JKERA Dr. Syed Abid Rasheed Shah. He said that his team would continue to give their best in every possible way to complete the vital developmental projects works on the component of strengthening and restoration of livelihood and the component of the strengthening of the critical infrastructure of the World Bank-funded Jhelum Tawi Flood Recovery Project.

“The new disbursement target will be met well in advance due to big improvements in the implementation of the project,” the CEO assured.

The TPRM of World Bank assisted Projects held during 22-24 September, 2020 under the chairmanship of Sameer Kumar Khare, Additional Secretary (FB&ADB), DEA, Ministry of Finance, for information and necessary action. The TPRM, which reviewed the progress of various projects funded by the World Bank across the country was attended by the senior officers of the DEA (Department of Economic Affairs) Ministry of Finance, Govt of India, World Bank and senior officers of various EA’s (Executing Agencies). The meeting expressed immense satisfaction over the marked improvement in the implementation of the World Bank funded USD 250 million Jhelum Tawi Flood Recovery Project in Jammu and Kashmir.