Business

Odisha signs MoU with German Bank for Urban infra development

Bhubaneswar: Odisha government and Odisha Urban Infrastructure Development 
Fund (OUIDF), a wholly owned trust of Odisha on Tuesday signed an agreement with KfW, a development of Bank of Germany to avail a concessional long term loan of Rs 440 crore ( Euro 55 million)

OUIDF CEO P K Jha and KfW Country Director India Christoph Kessler signed the agreement in the presence of Chief Minister Naveen Patnaik.

The loan would be utilized for infrastructure projects like energy efficient street lighting, reclamation and development of water bodies, solid waste management, sewerage system, water supply, storm water drainage, modern wet markets and abattoirs across the urban areas of the state.

As per the agreement the loan is to be paid over a period of ten years after a moratorium of six years commencing from December 2022 with 1.

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