India, ADB signs Two loan agreement in Uttarakhand and Tamil Nadu
The two agreements of India and Asian Development Bank costs worth Rs $ 275 million.
Image credit: Reuters
New Delhi: The Government of India and Asian Development Bank (ADB) today signed two different loan agreements of $150 million loans & $125 million in Tamil Nadu and Uttarakhand simultaneously.
The loan agreements were signed to provide access to inclusive, resilient, and sustainable housing for the urban poor in the state of Tamil Nadu and to improve access to safe and affordable drinking water supply and citywide inclusive sanitation services in Dehradun and Nainital cities in the state of Uttarakhand.
The signatories to the loan agreement for Inclusive, Resilient and Sustainable Housing for Urban Poor Sector Project in Tamil Nadu were Shri Rajat Kumar Mishra, Additional Secretary, Department of Economic Affairs, Ministry of Finance, signed for the Government of India, and Mr. Takeo Konishi, Country Director of ADB’s India Resident Mission, who signed for the ADB.
On the other hand, Mr. Rajat Kumar Mishra, Additional Secretary, Department of Economic Affairs, Ministry of Finance, signed for the Government of India the agreement for the Uttarakhand Integrated and Resilient Urban Development Project while Mr. Takeo Konishi, Country Director of ADB’s India Resident Mission, signed for ADB.
A portion of ADB’s assistance will be invested by the state government as equity into the Tamil Nadu Shelter Fund to catalyze private sector financing and support investments mainly in industrial housing and working women’s hostels for low-income and migrant workers.
In addition, ADB will provide a $1.5 million technical assistance (TA) grant from its Technical Assistance Special Fund to support the capacity building of government agencies responsible for delivering affordable housing and regional planning in Tamil Nadu. The TA will document successful approaches to affordable housing delivery, including the graduation programme for vulnerable relocated beneficiaries, that can be adopted in other cities and countries.
In the Uttrakhand project, Many innovative solutions like soak pit reuse and utilization for groundwater recharging, bus mobile toilets with gender-sensitive and inclusive design features, rainwater harvesting, and compact design, and pre-fabricated sewerage treatment facilities will enhance the climate resilience of the project.
The project will construct 136 kilometers (km) of water pipe system to replace defective water networks in South Dehradun to ensure reliable and continuous water supply to benefit an estimated 40,000 people, including 4,000 urban poor and vulnerable groups. Water meters will also be installed in about 5,400 households to support efficient water use and consumption billing.