ADB to provide $125 million loan to improve Urban Services in Tamil Nadu

Tags: Economy/Finance State News

The Asian Development Bank (ADB) will provide USD 125 million loan to India to develop climate-resilient sewage collection and treatment, and drainage and water supply systems in three cities in the state of Tamil Nadu.

In 2018 ADB agreed to provide USD 500 million loan to build priority water supply, sewerage, and drainage infrastructure in strategic industrial corridors across 10 cities in Tamilnadu. The loan amount was to be provided in three tranches. Under the third tranche $125 million will be provided and the amount will be used to build priority water supply, sewerage, and drainage infrastructure in Coimbatore, Madurai and Thoothukudi.

Asian Development Bank (ADB)

It is a regional multilateral financial institution which focuses on the countries of Asia and Pacific region.

At present it has 68 members—of which 49 members are from within Asia and the Pacific and 19 outside.

President of ADB: Masatsugu Asakawa 

Headquarters: Mandaluyong City, Manila, Philippines