$200 Million Loan Agreement
Context:
Recently, the Government of India and the Asian Development Bank (ADB) have joined hands to enhance urban living conditions in Uttarakhand with a $200 million loan agreement.
Relevance:
GS-03 (Growth and development)
Key Highlights
- Main Goals: Focus on enhancing water supply, sanitation, urban mobility, and flood management to improve liveability and resilience against environmental challenges like floods and landslides.
- Haldwani Infrastructure Upgrades:
- Development of 16 km of climate-resilient roads and an intelligent traffic management system.
- Introduction of compressed natural gas buses and a pilot for electric buses.
- Construction of 36 km of stormwater and roadside drains for flood management.
- New green-certified administrative complex and bus terminal.
- Water and sanitation improvements:
- Goal of 100% water service coverage in Champawat, Kichha, Kotdwar, and Vikasnagar with 1,024 km of climate-resilient pipelines, smart metres, tubewells, and a water treatment plant.
- Expanded sanitation services in Vikasnagar to benefit 2,000 households.
- Women’s Empowerment:
- Training initiatives for women in bus driving, ticketing, and managing electric charging stations.
- Capacity-building for women, especially from vulnerable backgrounds, in managing water supply and sanitation.
- Co-financing by European Investment Bank: An additional $191 million from the European Investment Bank will support this initiative, contributing to Uttarakhand’s sustainable urban development.
Asian Development Bank (ADB):
- It is a regional development bank established in the year 1966 with an aim to promote social and economic development in Asia and the Pacific.
- It is headquartered in Manila, Philippines.
- ADB has 68 members, 49 from Asia and the Pacific, including India, which is a founding member.
- ADB works include providing loans, technical support, grants, and equity investments to bolster social and economic development.
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