Guwahati, Aug 5 (PTI) Assam government, NABARD and Assam Infrastructure Financing Authority (AIFA) have signed a Memorandum of Understanding (MoU) to boost the execution of development projects in the state.

The MoU was signed in presence of Chief Minister Himanta Biswa Sarma on Wednesday. The MoU, with a stake involving Rs 13,200 crore will essentially be used for infrastructural development from NABARD Infrastructure Development Assistance (NIDA) and Rural Infrastructure Assistance to state government (RIAS) in rural and semi urban areas across the state.

The chief minister said on the occasion that the 'day was historic' and he hoped that it would usher in a new era of development in the state.

Sarma also said that it would launch a series of capital-intensive projects to bring about a paradigm shift in the development narrative of the state.

The pumping of Rs 13,200 crore will bring about infrastructural development, particularly in the academic sector of the state, Sarma said.

Engineering colleges, medical colleges, universities, schools, stadia, tourism centres, cold storages would be built in the state over the next three years, he added.

Assam Finance Minister Ajanta Neog said on the occasion that as an offshoot to the MoU, various capital intensive projects will be launched which will steer the state to a new path of development.

Deputy Managing Director NABARD P V S Suryakumar thanked the chief minister for accepting the proposal of the NABARD and setting the stage for signing the MoU within a very short period. PTI DG RG RG