New Delhi, June 21: The Asian Development Bank (ADB) and the Government of India today signed a $275 million loan for improving urban services to about 300,000 households in 64 small towns in the central Indian state of Madhya Pradesh.
Madhya Pradesh needs substantial investments to keep pace with its rapid urbanization and continuous water supply is vital for improving living standards and enhancing economic growth, said Raj Kumar, Joint Secretary, Ministry of Finance after signing the loan.
Sustainable piped water supply will foster inclusiveness by giving more of the state’s population easier access to basic services, especially for women and girls.” said Kumar.
The project will develop sustainable, inclusive, and climate-resilient water supply in 64 small and medium-sized towns, and integrated storm water and sewerage infrastructure in two heritage towns of Khajuraho and Rajnagar.
The project supports the State government’s priority to develop urban infrastructure. Previous ADB urban investments in the state have improved access to safe drinking water for more than 5 million residents in 4 major cities.
Along with ADB’s loan, the Government of Madhya Pradesh will provide counterpart support of $124 million. The project will run for almost five years with an expected completion date of June 2022.