Boost For Infrastructure In TN As ADB To Provide $500 Million For Civic ProjectsThe ADB headquarters in Manila

Asian Development Bank, an international development finance institution dedicated to reducing poverty in Asia and the Pacific, is likely to provide $500 million for climate resilient infrastructure development in Tamil Nadu, reports Times of India.

Reports suggest that a sum of $500 million has been approved for a multi-tranche financing facility that will develop sewage, water supply and drainage across 10 cities of Tamil Nadu.

Tamil Nadu is among the most urbanised states as more than half of its population is found to be living in cities, TOI quoted ADB senior development specialist Ron Slangen as saying.

About four million people are reported to benefit from sewerage connections, clean drinking water supply and drainage. Urbanisation management is indispensable for sustainable economic growth and poverty alleviation. Climate change has brought about erratic monsoons and recurring drought.

ADB can be helpful in providing innovative and climate-resilient investment and institutional support, said Slangen. The funding is supposed to be done in three tranches between 2018 and 2020.

Chennai, Coimbatore, Rajapalayam, Tiruchirapalli, Tirunelveli and Vellore are to get $169 million in the first tranche. The Union Government, State Government, Chennai Metropolitan Water Supply and Sewerage, and urban local bodies will provide $766.4 million towards the total programme cost.

An Appeal...

Dear Reader,

As you are no doubt aware, Swarajya is a media product that is directly dependent on support from its readers in the form of subscriptions. We do not have the muscle and backing of a large media conglomerate nor are we playing for the large advertisement sweep-stake.

Our business model is you and your subscription. And in challenging times like these, we need your support now more than ever.

We deliver over 10 - 15 high quality articles with expert insights and views. From 7AM in the morning to 10PM late night we operate to ensure you, the reader, get to see what is just right.

Becoming a Patron or a subscriber for as little as Rs 1200/year is the best way you can support our efforts.

Become A Patron
Become A Subscriber
Advertisement