The State Government on Wednesday signed a memorandum of understanding (MoU) with a German bank for availing long-term loans for strengthening infrastructure works in urban areas.
The Odisha Urban Infrastructure Development Fund (OUIDF) inked the pact with the German Government-owned KfW Development Bank to avail Rs 440 crore as concessional long-term loan for a period of six years.
Chief Minister Naveen Patnaik Industries and Urban Development Minister Niranjan Pujari, Chief Secretary AP Padhi, BMC Mayor Ananta Narayan Jena and representatives of KfW Development Bank were present at the MoU signing ceremony held at the Secretariat.