Government of Mizoram today signs tripartite agreements with Asian Development Bank(ADB) and the Government of India for obtaining $ 100m (Rs. 480 Cr.) from Asian Development Bank as Structural Adjustment Loans (SAL) under the Mizoram Public Resource Management Programe. The agreements were signed by Pu C. Lalsawta, Principal Secretary, Finance Department on behalf of the Government of Mizoram, Mr. Tadashi Kondo, Country Director, India Resident Mission on behalf of Asian Development Bank and by Shri Govind Mohan, Jt. Secretary, DEA on behalf of the Government of India.
The Loans consist of (1) $ 6 million as Technical Assistance (TA) Loan for equipment, technology, training, workshops, and contingencies and (2) $ 94 million Program Loan for Tax and Non Tax Revenue Reforms, Debt Management, Public Expenditure Management, Health Corpus, VRS, Pension Reforms and PSE Reforms. Of these, the Health Corpus for Mizoram Health Care Scheme will account for $ 25 million (Rs. 12090 lakh) and Voluntary Retirement Scheme of unqualified Teachers will account for $ 15 million (Rs. 7250 lakh). The Loans would be released in three tranches in a period of three years.