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ADB approves ₹2,644.85 cr for urban infrastructure

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The Asian Development Bank has approved a loan of Rs 2,644.85 crore to India to help improve its urban infrastructure services. This funding will support the Ministry of Housing and Urban-Rural Development’s policy of accelerating the popularization of tap water and improving environmental sanitation. This is part of the National Revitalization and Urban Transformation Program (AMRUT) 2.0, and under the flagship mission Pradhan Mantri Awas Yojana, it provides affordable housing for everyone, including the poor, urban immigrants and industrial workers. The plan will benefit the urban poor, including other disadvantaged, economically disadvantaged groups and low-income groups. It aims to support the government’s agenda to transform cities into economically viable and sustainable communities, and to continue ADB’s long-term cooperation with India to improve basic Sanjay Joshi, the chief urban development expert of ADB South Asia, said in various states. Efforts to improve urban water supply, sanitation and affordable housing, and performance-based fiscal transfers will help the country speed up the reform of urban service delivery and COVID-19 recovery plans. India currently has an estimated urban population of 460 million (460 million), ranking second in the world, and is expected to reach nearly 600 million (600 million) by 2030, with an annual growth rate of more than 2%. As urban areas will continue to contribute more than 60% of GDP, cities will become powerful engines for India’s growth-generating economic activity and output, creating jobs for large numbers of workers, improving competitiveness and urban livability, and protecting surroundings.

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