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ADB and India Signed 181 Million Dollars Loan for Ahmedabad

Utkarsh Classes 14-03-2024
ADB and India Signed 181 Million Dollars Loan for Ahmedabad State news 3 min read

The Government of India has signed a loan agreement with the Asian Development Bank (ADB) for a total of USD 181 million. The loan is given to finance the construction of infrastructure and services aimed at improving urban livability and mobility in the peri-urban areas of Ahmedabad city. 

  • The project is expected to benefit several groups, including the urban poor, women, and migrant workers. it will provide them with better urban services and governance. 
  • Specifically, the project will involve the construction of 166 km of water distribution networks, 126 km of climate-resilient stormwater drainage, 300 km of sewerage systems, and four sewage treatment plants.
  • For the promotion of better connectivity between peri-urban areas and Ahmedabad city the project is set to back 10 junction improvements along the existing Sardar Patel Ring Road.
  • ADB's support will strengthen the capacity of the Ahmedabad Urban Development Authority and urban local bodies in technology-based urban planning, climate change, and disaster-resilient infrastructure. This includes promoting environmental and social safeguards, gender equality, and social inclusion.
  • The project will also help in land development plans and town planning schemes while building government agencies' capacity in financial planning, revenue enhancement, and infrastructure asset operations. 
  • Additionally, awareness-raising activities will be held in communities to encourage water conservation, health, and hygiene. 
  • Women self-help groups will also undergo training on water supply operations. Through a public-private partnership, the project will support the development of recycling treated sewage for industrial use.

Asian Development Bank (ADB)

  • Establishment: Founded in 1966, the Asian Development Bank (ADB) was established as a financial institution dedicated to promoting economic growth and cooperation in one of the world's poorest regions. 
  • With 68 members, including 49 from the region, ADB is headquartered in the capital of the Philippines, Manila, and provides loans, grants, technical assistance, and equity investments to support the economic and social development of its members and partners. 

Masatsugu Asakawa is currently serving as the President of ADB, whereas Takeshi Watanabe, was its first President.

FAQ

Answer: Ahmedabad

Answer: 1966

Answer: Manila, Philippines
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