Srinagar: The Asian Development Bank (ADB) on Saturday agreed to fund the construction of Rs 350-crore flyover projects in Jammu and Kashmir’s twin capitals - Srinagar and Jammu - under its loan-II assistance to the state.

A joint team of the Union Department of Economic Affairs and ADB agreed in principal to fund the twin flyover projects at a meeting with Chief Minister Omar Abdullah here, an official spokesman said.

The State Economic Reconstruction Agency (ERA) has got vetted the structural designs of these flyovers – one at Jahangir Chowk in Srinagar, and the other at Bikram Chowk in Jammu – by IIT Roorkee. The traffic mobility study in relation to the construction of these projects has been conducted by RITES.

The Chief Minister had taken up the issue of inclusion of these projects under ADB funding with Union Finance Minister Pranab Mukherjee. In response to this, he has sent the team to study the proposal of the state government.

The team has visited the state and held discussions with officers of ERA and other concerned departments. It expressed satisfaction with the preparedness of ERA to launch these projects and the rehabilitation model prepared for the affected people.

The team, led by Union Joint Secretary Department of Economic Affairs Venu Rajamony, comprises ADB Country Director Hun Kim, Senior Urban Specialist Atsushi Kaneko and other members