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The Asian Development Bank (ADB) has approved a USD 400-million policy-based loan to India towards enhancing infrastructure quality, providing assured public services and efficient governance systems. The loan will be under Sub-programme 2 of ADBs Sustainable Urban Development and Service Delivery Programme.
Indias focus on making cities liveable through resilient, and sustainable infrastructure is in line with ADB Strategy 2030. The programme also envisages integrated reforms to control urban sprawls and foster systemic and planned urbanisation. Specifically, ULBs will promote modernisation of building bylaws, land pooling, and urban mobility planning through transit-oriented development. Such integrated planning will incorporate climate and disaster resilience, improve urban environment and others.
Moreover, cities will be incentivised to become creditworthy through reforms for enhancing revenues such as property taxes and user charges, to result in rationalised expenditures. Innovative financing such as commercial borrowings, municipal bonds, sub-sovereign debts, and public–private partnerships (PPPs) would be encouraged in the area of urban infrastructure investments.
ADB will continue to provide knowledge and advisory support to the Ministry of Housing and Urban Affairs towards programme implementation, especially in lower-income states which require support in capacity building and policy reforms.
The national flagship programme of Atal Mission for Rejuvenation and Urban Transformation (AMRUT) 2.0 is targeted for universal access of water supply and sanitation and to ensure urban water security. |
