Centre-ADB inks $251-mn disaster resilient infra pact
The Central Government and the Asian Development Bank (ADB) has signed a $251 million loan for climate-resilient, integrated urban flood protection and management in the Chennai Kosasthalaiyar basin to strengthen the resilience of Chennai city to floods. Additional Secretary, Department of Economic Affairs in the Ministry of Finance, informed that he and the Country Director of ADB‘s India Resident Mission for ADB, Takeo Konishi signed the agreement, which pertains to the Integrated Urban Flood Management for the Chennai-Kosasthalaiyar River Basin Project. The project interventions will help reduce the vulnerability of Chennai–Kosasthalaiyar basin residents to frequent floods, which have in recent years destroyed property and livelihoods. The building disaster-resilient infrastructure would help communities cope with intensifying rainfall, a higher sea-level rise, and also a storm surge caused by cyclones and protects lives, economy and the environment. While Takeo Konishi informed that the project will build flood protection infrastructure as well as strengthen the capacity of the Greater Chennai Corporation and communities for better preparedness planning to transform Chennai into a more livable city. The innovative designs and interventions for climate-resilient flood management promoted by the project along with integrated urban planning and enhanced municipal resource mobilization can be widely replicated for other Indian cities that are vulnerable to climate and disaster risks.
📅Published on:
03 November 2021
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