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Central Government inks loan agreements with ADB worth 2,074 crores for urbanization of Tamil Nadu & Uttarakhand

The Central Government of India has inked loan agreements worth US $150 million (Approximately Rs.1,132 crores) for providing resilient & sustainable housing projects for the urban poor population of the state of Tamil Nadu with the Asian Development Bank (ADB).

While the separate US $ 125 million (Approximately Rs.942 crores) loan for improving accessibility of safe drinking water and also with citywide sanitation projects for the cities of Dehradun & Nainital in the state of Uttarakhand as per the statement released by central government officials to the media on Tuesday.

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The housing projects are led by the Government’s flagship program, PMAY-Housing for All (Urban), prioritized by the present ruling party’s developmental program for the urban sector poor in Tamil Nadu as per statements released.

The reports further stated that in the state of Tamil Nadu, the rapid growth of urbanization had created a counter shortfall in the housing sector, in particular for the lower income group of the urban population.

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The housing project managed through the ADB sanctioned loans will help the Government to provide housing projects to the vulnerable section of the society &, in turn, also catalyze private investments in the project as stated by ADB’s Indian Resident Mission Country Director Takeo Konishi.

Half of Tamil Nadu’s population of 7.2 crore lives in the cities, making it one of the urbanized states in the nation, around 6000 householders will be relocated to safer locations in nine different locations of the state.

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The Uttarakhand Project will take care of the urbanization of Dehradun & Nainital who attract a large number of tourists each year, improvement in safe accessibility of drinking water along with upgraded sanitary services benefitting an estimated 40,000 in the population & also poorer section of the cities urban area which numbers around 4000 people.

A 136 km of water pipeline is to be constructed replacing the older defective one; also 256 km of enclosed underground projects for sewer networks will be undertaken; furthermore, 117 kms of Storm Water Drainage networks will benefit a population numbering estimated1,38,000 residents.

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A total estimated 17,410 households will be connected to the sewer system, thereby maintaining health benefits in this pandemic period.

ADB will also provide a Technical Assistance Special Fund of US$ 2,50,000 & another Climate Change Fund of US$ 7,50,000 for this project.

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