GOI And ADB Sign $400 Million Loan

  • Government of India today signed a $400 million policy-based loan with the Asian Development Bank.
  • To support its urban reform agenda for creating high-quality urban infrastructure, improving service delivery, and promoting efficient governance systems.
  • It is a Sub-programme 2 of the Sustainable Urban Development and Service Delivery Programme.
  • 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 supports investment planning and reform actions at the state and urban local body (ULB) levels.
  • “Sub-programme 2 supports the reforms initiated by the states and the ULBS in operationalizing the national flagship programme of Atal Mission for Rejuvenation and Urban Transformation (AMRUT) 2.0 targeted for universal access to water supply and sanitation.”
  • It also supports objectives for ensuring urban water security through reducing water losses, recycling treated sewage for non-domestic use, rejuvenation of water bodies, and maintaining the sustainable groundwater level.”
  • It envisages integrated urban planning reforms to control urban sprawl and foster systemic and planned urbanisation through enhancing legal, regulatory, and institutional reforms along with capacity building and community awareness.
  • ULBs will promote the 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.
  • It will incorporate climate and disaster resilience, promote nature-based solutions, improve the urban environment, and improve cities’ financial sustainability through the generation of additional revenues.
Posted in Current Affairs.