Question : ADB & Government of India has recently(June 2021) signed an agreement to support preparation of road upgradation project in Sikkim. For this purpose, both party signed a 2.5 million dollar PRF loan. What does PRF mean ?
a. Project readiness financing
b. Precautionary rehabilitation financing
c. Protection readiness financing
d. None of the above
Ans. a.
- ADB & Government of India has recently(June 2021) signed an agreement to support preparation of road upgradation project in Sikkim.
- For this purpose, both party signed a 2.5 million dollar PRF loan.
- PRF stands for — project readiness financing.
- The PRF will support the state government’s priority in improving road connectivity in the hill state through planning and designing of major district and other roads and bridges that will help boost the state’s economy and improve accessibility for people in remote villages.
- The PRF project aims to ensure implementation readiness through feasibility studies, preparing detailed engineering designs of selected subprojects and building capacity of state agencies so that the ensuing project gets completed in a timely manner.
- It is notable that ADB-funded North Eastern State Roads Investment Program launched in 2011 had earlier supported road improvements in Sikkim.
By — Pankaj Pandey.