Centre-ADB inks $251-mn disaster resilient infra pact

The center signed a US $251 million loan agreement with the Asian Development Bank (ADB) on Thursday for climate adaptation, integrated urban flood protection, and management in the Chennai-Kosasthalaiyar basin.

It is expected that the project intervention measures will reduce the vulnerability of residents in the Chennai- Kosasthalaiyar basin to frequent floods, which have in recent years destroyed property and livelihoods.

“The project will build flood control infrastructure and strengthen the capacity of the Greater Chennai Company and the community to better prepare and plan to transform Chennai into a more livable city,” said Takeo Konishi, Country Director, ADB India Resident Representative Office Takeo said.

“The innovative design and intervention measures for climate-adaptive flood management promoted by this project, as well as comprehensive urban planning and strengthening of municipal resource mobilization, can be widely applied to other Indian cities that are vulnerable to climate and disaster risks.” Recently, Chennai’s rapid urbanization has eroded the city’s natural landscape, reduced water storage capacity, and made the city vulnerable to large-scale floods.

News Source : FREE PRESS