IEE: Jammu and Kashmir Urban Sector Development Investment Program — Srinagar City Parking Subproject

Published Date: 
04/2012

Economic Reconstruction Agency (ERA) has undertaken Jammu and Kashmir Urban Sector Development Investment Program (JKUSDIP), financed by the ADB through Multi- Tranche Financing Facility (MFF). The total estimated cost of the program is about US $485 millions, out of which $300 million will be financed by ADB.

The primary objective of JKUSDIP is to promote economic development in the State of Jammu and Kashmir (Jand K) through expansion of basic services such as water supply, sewerage, sanitation, drainage, solid waste management, urban transport and other municipal functions in Jammu, Srinagar and other important urban centers of the State. JKUSDIP will also strengthen the service delivery capacity of the responsible state urban agencies and urban local bodies through management reform, capacity building and training.

The program is to be implemented in 4 to 7 tranches over a period of 8 years. Each tranche constitutes a separate loan. Tranche I (Project-1) of JKUSDIP (Loan 2331–IND) is under implementation. One of the subprojects identified under Tranche 2 (Project-2) JKUSDIP is the "Construction of Multi- Storied Parking Facility at KMDA Stand in Srinagar".

The major objectives are: (i) Decongestion of traffic in the Lal chowk area, (ii) Reduction of on street parking, (iii) Providing safe, secure and efficient vehicular circulation/passage inside as well outside parking facility and thereby enhancing in public safety and security, (iv)To provide good public amenities for residents and tourists in the area, (v) Improved long term traffic management in the city.

The legal framework and principles adopted for addressing environmental issues in the proposed subproject have been guided by the existing legislation and policies of the Government of India, Government of Jammu and Kashmir, Asian Development Bank and the Revised Environmental Assessment and Review Framework (EARF)1 adopted for the Tranche 2 of JKUSDIP.

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