ADB Approves $200 million loan to improve Kolkata infrastructure
Loan and Grant
3 min read
The Manila-based Asian Development Bank (ADB) has approved a $200 million loan to the Kolkata Municipal Corporation Sustainability, Hygiene and Resilience (Sector) Project.
The loan will finance projects that aim to improve the living conditions of the poor by developing climate and disaster resilient sewage and drainage infrastructure in the city.
This is expected to reduce the risk of waterborne and vector-borne diseases, and will also help in reducing flood risks.
Use of the Loan Amount
The $200 million loan amount will be used to develop and expand the sewerage and drainage infrastructure within the city and strengthen the Kolkata Municipal Corporation’s governance and revenue generation efforts.
Sewage and Infrastructure Development
- Construction of 84 kilometers of combined trunk and secondary sewerage and drainage pipelines in the city,
- Installation of 176 km of combined lateral sewerage and drainage pipelines up to customer connections,
- Providing sewer connection to 50,000 households,
- Construction of one sewage treatment plant and five pumping stations.
Strengthening Kolkata Municipal Corporation
- Develop a comprehensive IT-based asset management system for Kolkata Municipal Corporation,
- enhance property tax revenue collection of the Corporation,
- expand the early flood warning system in the city,
- raise community awareness on water, sanitation, and hygiene and support women’s employment through skills training and an internship program.
Masato Kanda assumes office as 11th President of ADB
Masato Kanda of Japan has assumed office as the 11th President of the Asian Development Bank (ADB).
Masato Kanda succeeds fellow Japanese Masatsugu Asakawa.
About the Asian Development Bank
The Asian Development Bank is a regional multilateral development bank that focuses on the Asia-Pacific region.
The Bank provides loans to the countries in the Asia Pacific region for development and climate finance. It also provides grants to low-income countries and technical support for various projects.
It also invests in companies to promote social and economic development.
Founded: December 19 1966, with 31 countries, including India, as its founding members.
Members: 69, 49 of whom are from the Asia Pacific region and 20 from outside the region.
Headquarters: Mandaluyong City, Philippines.
President : Masatsugu Asakawa
