http://www.financialexpress.com/fe_full_story.php?content_id=151924 <http://www.financialexpress.com/fe_full_story.php?content_id=151924>
ADB 'no' to change in Kerala loan agreement FINANCIAL EXPRESS. AM JIGEESH <http://www.financialexpress.com/about/feedback.html> Posted online: Wednesday, January 17, 2007 at 0048 hours IST NEW DELHI, JAN 16: The Asian Development Bank (ADB) on Tuesday made it clear that no change is possible in the loan agreement it had signed with the Kerala government in December 2006. This was in response to the claims and counterclaims made by the two factions of the Kerala CPI(M) on certain "anti-people clauses" in the agreement. ADB's principal urban specialist Alex K Jorgensen said "there is nothing anti-people in the agreement. No changes have been made in it. We don't have an option. It is now for the Union finance ministry to decide whether any changes should be made in loan agreements with state governments," he added "ADB is a public bank in which the Indian government is also a major share holder. We cannot change the fundamentals of the loan agreement in accordance with the wishes of successive governments," Jorgensen said. He, however, added that the bank could increase the scope of the agreement with the Kerala government. Though the controversy over the loan agreement has been there since 2005, it was State finance minister TM Thomas Isaac who gave it a new twist , when he declared in a press conference here, recently, that changes had been made in the draft agreement, signed by the previous UDF government and the ADB. "All the anti-people clauses in the agreement were removed," Isaac had said. However, chief minister VS Achuthanandan sought to differ on the issue and told reporters on Sunday that the agreement still had certain "dangerous" points. When asked whether the ADB would discuss the issue with the Kerala government, ADB's India chief Tadashi Kondo said: "I think the state government is contemplating on the (loan) agreement. Anyway, we are always open to discussions on the issue." The loans are given for urban development projects in various corporations and municipalities in the country. "The West Bengal government is supporting our programmes wholeheartedly," Jorgensen said. Anivar Aravind Global alternate Information Applications(GAIA) Peringavu P.O Thrissur-18 Kerala Ph. +91 9446545336 --~--~---------~--~----~------------~-------~--~----~ greenyouth mailinglist is the activist support mailinglist for kerala run by Global Alternate Information Applications (GAIA) To post to this group, send email to [email protected] -~----------~----~----~----~------~----~------~--~---
