Government of India and Asian Development Bank collaborate for three projects

The Government of India takes initiative to develop water supply, sewerage, and drainage infrastructure in at least 10 cities in the State of Tamil Nadu.

The government of India and the Asian Development Bank (ABD) signs three separate loans in one day of worth USD 574 million in the capital of India to support the projects India Infrastructure Finance Company Limited (IIFCL) in India, wat

  • Eatablished in 2006, IIFCL also referred as SIFTI, is a government of India company.
  • IIFCL provides financial assistance to the infrastructural sub-sectors listed by the government or the RBI which broadly include transportation, energy, water, sanitation, communication, social, and commercial infrastructure
  • The ADB and the government signed a loan agreement of USD 300 million to support IIFCL
  • This project is believed to enhance the availability of long-term finance for PPP projects, improve the operational capacity of IIFCL, and expand the portfolio of infrastructure financing instruments available to IIFCL
  • IIFC has also made a contribution of Rs 300 crore to the National Sports Development Fund (NSDF)
  • This contribution is being utilized for the promotion of sports in the disciplines like Badminton, Archery and Para Sports.
  • Asian Development Bank (ADB) and the Government of India signed a USD 169 million loan as the first tranche of a USD 500 million multi-tranche financing to develop climate-resilient water supply, sewerage, and drainage infrastructure in at least 10 cities in the state of Tamil Nadu.
  • The state has faced recurring droughts and erratic monsoons in the recent past resulting in severe water scarcity and urban flooding.
  • ADB’s support will help address these complex urban challenges through innovative and climate-resilient investment and deeper institutional support
  • The program will develop climate-resilient sewerage collection and treatment and drainage systems in 10 cities
  • It will also help in installing country’s first solar-powered sewage treatment plant
  • Introduction of smart water management systems will help reduce non-revenue water and strengthen operational efficiency
  • Around four million people will benefit from piped water and sewerage connections, and improved drainage
  • The program will boost institutional capacity, public awareness, and urban governance as a part of a comprehensive approach for developing livable cities.
  • The ADB signed a USD 105 million loan to continue financing the transmission system upgrades in Himachal Pradesh for increased supply of hydropower to the state and the national grid
  • The tranche 3 loan is part of the USD 350 million multi-tranche financing facility (MFF) for Himachal Pradesh Clean Energy Transmission Investment Program approved by the ADB Board in September 2011
  • The program is aimed at developing and expanding the transmission network to remove clean and renewable power generated from the state’s hydropower sources to load centers within and outside the state
  • It also supports the institutional capacity development of the state transmission utility, Himachal Pradesh Power Transmission Corporation Limited (HPPTCL), as the executing agency for this project.

[“source=indiatoday]

Author: John