Shillong, Nov 26: The cabinet has approved availing a loan from the World Bank for the implementation of the Meghalaya Logistics and Connectivity Improvement Project (MLCIP).
MLCIP represents the second phase of the World Bank-supported initiative, earlier known as the Meghalaya Infrastructure and Transport Project (MITP), which was approved about a year ago. Since then, necessary discussions and negotiations with the World Bank have taken place, and the Detailed Project Reports (DPRs) have been prepared. The department has now sought cabinet approval to proceed with the financial arrangement with the World Bank.
The total project cost is estimated at $300 million:
•State government share: 20% ($60 million)
•World Bank Loan Component: 80% ($240 million)
Of the loan component:
•90% ($216 million) will be repaid by the Government of India.
•10% ($24 million) will be borne by the Government of Meghalaya.
In total, the project’s cost is around Rs 2,450 crore which will cover road development and logistical infrastructure improvements across the state.
Revenue generation
Cabinet has approved the Internal Revenue Generation (IRG) Scheme for Engineering Colleges and Polytechnics.
The government often outsources technical studies and design vetting to institutions like IITs, despite having capable institutes such as Shillong Engineering College and the polytechnics. The new IRG scheme allows these institutes to undertake such work, engage their faculty and students, and generate revenue. IITs may still be involved as required, but our institutes can now take up projects they were previously not permitted to handle.
