Shillong, Sep 9: Meghalaya Chief Minister Conrad Sangma and his Assam counterpart Himanta Biswa Sarma today met Union Finance Minister Nirmala Sitharaman in New Delhi to discuss matters relating to Externally Aided Projects (EAPs).
Meghalaya relies on EAPs to support major developmental programmes. The State is currently implementing over Rs 12,000 crore worth of EAPs funded through loans from Asian Development Bank and KfW.
In June this year, Sitharaman during her visit to Shillong had laid foundation stones for 30 new EAPs worth Rs 1246 crore to expand connectivity, education, tourism and sustainable livelihoods.
Meghalaya’s present allocation on EAPs remains at Rs 5000 crore. The State government has requested the Central government to increase the EAP allocation to Rs 10,000 crore and remove restrictive borrowing ceilings so that the State could avail more schemes in the future.
Under the funding framework applicable to North East states, nearly 90 per cent of the loans under EAPs is borne by the Central government. Further, around 87 per cent of specialised project consultancy costs for the projects are funded directly through multilateral agencies like World Bank and Asian Development Bank.
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