World Bank to Grant $ 150 Million to Chennai’s Sustainable Urban Services Program
Chennai, October 1
The World Bank will provide a loan of $ 150 million to support the Government of Tamil Nadu’s Chennai City Partnership: Sustainable Urban Services Program, which aims to strengthen institutions, improve the financial health of service agencies and dramatically improve quality. four services – water supply and sanitation, mobility, health and solid waste management.
This program will support the government of Tamil Nadu in its efforts to transform the city and its services, while accelerating Chennai’s shift to a low-carbon and more resilient growth trajectory. It will help the government of Tamil Nadu, the Greater Chennai Corporation (GCC) and key service agencies adopt new approaches to service delivery and focus on results for citizens, according to a Bank statement. global.
The Chennai metropolitan area, home to approximately 10.9 million people, is the fourth most populous metropolitan area in India. Despite being an economic powerhouse, Chennai has not kept pace with the growing demand for key services. The coastal city also remains highly vulnerable to natural disasters, climate change and, as the Covid-19 emergency revealed, pandemics. âThis program marks the start of our partnership with the City of Chennai, where we will work with the government of Tamil Nadu to jointly create a more climate-friendly, resilient and inclusive model for managing urban growth. The experience from this partnership can shed light on other Indian cities and, more broadly, India’s massive urban transition, âsaid Junaid Ahmad, World Bank Country Director in India.
The main components of the program are the management of water resources, including water supply and sanitation services, urban mobility, health services and solid waste management. The project will increase household connections and improve the quality of water and sanitation services. It will expand green modes of urban mobility – bus, walking and cycling – as well as improvements in their quality and interconnectivity. It will also strengthen disease surveillance and improve the coverage and quality of primary health care services.
The integrated planning and management of these services through empowered coordinating agencies such as a Water Regulatory Authority and a Unified Metropolitan Chennai Transport Authority will also be part of this program. The program will improve the financial performance of the GCC and the Chennai Metro Water Supply and Sewer Board through increased revenue collection and / or reduced operating costs.
The International Bank for Reconstruction and Development (IBRD) $ 150 million loan is a variable spread loan that has a final maturity of 16 and a half years, including a grace period of five and a half years.