ADB approves $100-mn for urban infra upgrade

The Asian Development Bank (ADB) and Central government have recently signed $100 Million funding agreement where the funds would be invested to upgrade the civic infrastructure including the expansion of sewerage and drainage system in Kolkata. The upgrade will cover selected and peripheral areas of KMC to at least 3,000 additional households and provide sewage treatment for at least 100,000 households, thereby providing sewage treatment and strengthen capacity of Kolkata Municipal Corporation (KMC) for resilient urban services. The third and final tranche loan under the $400 million multi tranche facility, Kolkata Environmental Improvement Investment Program and signatories to the tranche 3 loan agreement were Sameer Kumar Khare, Additional Secretary, Department of Economic Affairs, Ministry of Finance, who signed for Government of India; and Kenichi Yokoyama, Country Director of ADB's India Resident Mission, who signed for ADB, said the multilateral funding agency in a statement.