Updated By: LatestGKGS Desk
ADB approved US $500 Million for Tamil Nadu infrastructure projects
ADB approved the US $500 Million for Tamil Nadu infrastructure projects: Details, Aim, Purpose, Highlights
Asian Development Bank (ADB) approved financing of up to $500 million for a Multitranche Financing Facility (MFF) infrastructure project in at least 10 cities of Tamil Nadu. It aims to develop climate-resilient water supply, sewerage, and drainage infrastructure.
Highlights
ADB’s financing will be provided in 3 tranches between September 2018 and March 2022.
The first tranche of the program amounts to $169 million will target the cities of Chennai, Coimbatore, Rajapalayam, Tiruchirappalli, Tirunelveli, and Vellore.
The Second one would be a $2 million grant from the Asian Clean Energy Fund, established by the Government of Japan, to fund the solar energy pilot project.
ADB technical assistance grant of $1 million to support capacity building. This is a part of a project worth $766.4 million by The Government of India, Government of Tamil Nadu, Chennai Metropolitan Water Supply and Sewerage Board.
The MFF availability period is up to 30 June 2026.
This financial assistance is a part of its support to the state’s Vision Tamil Nadu 2023 to provide universal access to water and sanitation and develop world-class cities in high-performing industrial corridors.
The Infrastructure projects would include:
Development of climate-resilient sewerage collection and treatment and drainage systems in 10 cities,
Installation of country’s first solar-powered sewage treatment plant on a pilot basis,
Introduction of smart water management systems.
Around 4 million people will benefit from piped water and sewerage connections and improved drainage.
ADB
Established: 1966
Headquarters: Manila, Philippines
Members: 67, (48 from Asian region)
Tamil Nadu (India)
Statehood: 26th January 1950
Capital: Chennai
Largest City: Chennai
Districts: 32
Official Languages: Tamil & English
Governor: Banwarilal Purohit
Chief Minister: Edappadi K. Palaniswami (AIADMK)
