Indian govt has sealed a USD 400 million deal with the Asian Development Bank (ADB) to bolster urban infrastructure, elevate service delivery, and fortify governance systems.
Asian Development Bank building/ ADB website
The Indian government has sealed a USD 400 million deal with the Asian Development Bank (ADB) to bolster urban infrastructure, elevate service delivery, and fortify governance systems, stated a report in ANI.
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The current deal, referred to as sub-programme 2, falls under the 'Sustainable Urban Development and Service Delivery Programme,' which was approved in 2021 and included USD 350 million for the improvement of urban services on a national scale.
Sub-Programme 2 focuses on aiding investment planning and reform actions at the state and urban local body (ULB) levels, disclosed a government release. It aligns with the government's urban sector growth strategy and backs initiatives like the Atal Mission for Rejuvenation and Urban Transformation (AMRUT) 2.0, aimed at ensuring universal access to water supply and sanitation, the report further stated.
According to ANI, ADB's Country Director for India, Takeo Konishi, highlighted the sub-programme's goals, emphasizing water security measures, urban planning reforms to curb sprawls, and fostering planned urbanisation through legal, regulatory, and institutional reforms. This includes capacity building for ULBs and public awareness.
The reforms encompass modernising building regulations, urban mobility planning, and incentivizing cities to enhance revenue streams like property taxes and user charges. The programme intends to make cities financially sound, encouraging innovations in financing such as municipal bonds and public-private partnerships for infrastructure investments.
Overall, the government anticipates significant strides in urban infrastructure development through these measures, enabling cities to secure additional funding sources and become well-structured hubs for economic growth.
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