India- ADB agreements for projects in Uttarakhand and TN
Central government has signed two loan agreements for Projects in the state of Uttarakhand and Tamil Nadu.
Key Facts
- The loan agreement of Rs 2,074 crore will be used for – affordable housing project in Tamil Nadu and water sanitation programme in Uttarakhand.
- Government and ADB signed a USD 150 million loan agreement to provide access to resilient, inclusive, and sustainable housing for the urban poor in Tamil Nadu.
- USD 125 million loan agreement was inked to improve access to safe & affordable drinking water supply as well as citywide inclusive sanitation services in Dehradun and Nainital of Uttarakhand.
Affordable Housing Project in Tamil Nadu
The affordable housing project is in line with government’s development priorities and policies on urban sector development, especially with the flagship programme PMAY-Housing for All (Urban). This project was launched as rapid urbanization and growth in Tamil Nadu has led to housing shortfall for low-income households. This project will help in providing access to affordable housing infrastructure and services to disadvantaged households. It will also catalyze private sector investment in affordable housing.
Number of housing units under the project
The affordable housing project will be used to construct housing units in nine separate locations, through the Tamil Nadu Urban Habitat Development Board. It will relocate around 6,000 households vulnerable to natural hazards to safer locations. State government of Tamil Nadu will invest a portion of ADB loan as equity into the Tamil Nadu Shelter Fund.
Loan for Uttarakhand project
Loan assistance for Uttarakhand project will address the need of upgrading urban services in fast-expanding capital city of Dehradun and Nainital. Improved water and sanitation services under the project will help in promoting better hygiene practices will help in protecting people from future pandemic and epidemic diseases. Under the project, 136 kilo-meters (km) of water pipe system will be constructed in a bid to replace defective water networks in South Dehradun for ensuring reliable & continuous water supply. Water meters will also be installed across 5,400 households for supporting efficient water use and consumption billing.
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Month: Current Affairs - December, 2021