GoI and ADB sign $400 million loan to support urban services.

• The Government of India today signed a $400 million policy-based loan with Asian Development Bank (ADB) to support its urban reform agenda for creating high quality urban infrastructure, improving service delivery, and promoting efficient governance systems.
• The signatories to the loan agreement for the Sub-programme 2 of the Sustainable Urban Development and Service Delivery Programme were Ms. Juhi Mukherjee, Joint Secretary, Department of Economic Affairs, Ministry of Finance, signing for the Government of India, and Takeo Konishi, Country Director of ADB’s India Resident Mission, signing for the ADB.
• While Sub-programme 1 approved in 2021 with a financing of $350 million established national-level policies and guidelines to improve urban services, Sub-programme 2 is supporting investment planning and reform actions at the state and urban local body (ULB) levels.
• The programme also envisages integrated urban planning reforms to control urban sprawls and foster systemic and planned urbanisation through enhancing the entire ecosystem of legal, regulatory, and institutional reforms along with capacity building of ULBs and community awareness. Specifically, ULBs will promote modernisation of building bylaws, land pooling, urban agglomeration, and comprehensive urban mobility planning through transit-oriented development to help cities become well-planned centres of economic growth. Such integrated planning processes will incorporate climate and disaster resilience, promote nature-based solutions, improve urban environment, and improve cities’ financial sustainability through generation of additional revenues.

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Published date : 17 Nov 2023 05:43PM