Canadian International Development Agency (CIDA)
provides funding through a counterpart fund. CIDA disbursements up to
have been CND$ 61.4 million out of the total commitment of CND$ 72 million. No
more funds are expected to be received from CIDA as per decisions taken in the
bilateral meetings between the Governments of Canada and India.
The funds received so far, with interest earned on deposits, is projected to
grow to the equivalent of Rs. 270 crores (CND$ 90 million) by the end of the
project (December 2007). As of March 2006, Rs. 270 crores (CND$ 90 million)
have been committed on 34 closed and ongoing projects, 15 small grants initiatives
and the ICEF Project Office, of which Rs. 223 crores (CND$ 74.2 million) has been
disbursed. Total disbursements for the year 2005-06 on projects and ICEFPO has been
Rs. 26.1 crores (CND$ 8.7 million).
ICEF has committed the entire estimated Rs. 270 crore available funds over the life of
the project (estimated to be till 2007). Thirty-four projects and 15 small grants
initiatives have been approved which are worth about Rs. 251.5 crore plus.
ICEF Project Office to incur a cost of Rs. 18.3 crore.
As of March 31, 2006, ICEF held approximately Rs. 36.5 crore in
deposits and on savings account balances. Funds held on deposit
are invested in international banks at competitive rates. Total
funding received from MoEF has been about Rs. 135.13 crore through
the sale of commodities like potash and steel rail exported by CIDA, CANADA.
Till date, ICEF has received an interest of Rs.123.5 crore on these funds.
Total disbursements made are about Rs. 223 crores.
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