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Asian Development Bank Approves 500 Million Dollar Loan For Tamil Nadu.

Courtesy/By: Subhalagna Choudhury | 27 Sep 2018

The Asian Development Bank is expected to provide a USD 500 million loan, and it has sanctioned that. This money will mainly be directed to build climate resilient infrastructure in several cities of Tamil Nadu, the multi lateral bank stated. The board of directors has approved the amount to be financed for a multi tranche financing facility, in order to develop climate resilient water supply, sewerage and drainage Structure. Tamil Nadu is more urbanised than most cities in India. Managing this rapidity of urbanisation is essential for growth and removal of poverty. The State suffers from recurring droughts and erratic climate including severe scarcity of water and poor rains. The support will help to address this complex problems through deeper institutional support.

The support will provide enough fund to realise the mission of the state in the form of Vision Tamil Nadu 2023. This is to provide universal access to water and sanitation. The funding will be released in three phases. There will be solar powered sewerage plant on pilot basis. The programme will introduce smart water management systems. ADB said around four million people will benefit from pipeline water. ADB technical assistance grant of USD one million will help the program in capacitor building.

Courtesy/By: Subhalagna Choudhury | 27 Sep 2018