news Monday, January 26, 2015 - 05:30
The News Minute | January 26, 2015 | 9:05 am IST The Andhra Pradesh government and US Trade Development Agency on Sunday signed a memorandum of understanding (MoU) for the development of Visakhapatnam as smart city. The MoU was signed in the national capital on the first day of US President Barack Obama's three-day visit to India. Andhra Pradesh Chief Secretary I.Y.R. Krisha Rao and US Trade Development Agency (USTDA) director Leocadia I. Zac signed the MoU in presence of Urban Development Minister Venkaiah Naidu and various officials of the US and Indian governments. Under this agreement, USTDA intends to contribute funding for feasibility/pilot studies, and study tours workshops/trainings. It will also support consultancies and advisories for the development of Visakhapatnam into smart city, said an official statement by the state government in Hyderabad. Other agencies of the US government like the department of commerce and US Exim Bank would also support the effort of the two parties to the MoU. Meanwhile, the US Industry Organization which has shown interest in participating in the development of Visakhapatnam would provide the necessary infrastructure facilities like aviation and energy. Under this MoU, specific agreements will be worked out by the Andhra Pradesh government and the US agencies with active participation of the central government. Chief Minister N. Chandrababu Naidu said that the MoU is a good beginning for establishing and strengthening administrative processes for higher growth. With IANS Tweet Follow @thenewsminute

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