An agreement for $400 million loan assistance to implement the sustainable urban development project in Tamil Nadu was agreed between the World Bank, Union government and the Tamil Nadu government.
The loan agreement was signed by Raj Kumar, joint secretary, department of economic affairs, Ministry of Finance, and the World Bank country director Onno Ruhl, recently. The project aims to improve urban services by following financially sustainable methods besides introducing improved urban management practices in the identified cities.While the total project costs $600 million, World Bank is supporting with $400 million.
It targets improving the urban services like water, sewerage, municipal solid waste, transportation, sewerage management among others.
