PFC-PMC inks Rs 1,000-cr STPs financing pact

The Pune Municipal Corporation (PMC) has entered into an agreement with the International Finance Corporation (IFC) to secure a loan of Rs. 1,000 crore. The loan will be utilized by the civic body to construct additional Sewage Treatment Plants (STPs) in the city.

Under the agreement, the IFC will conduct a comprehensive study of the project, including assessing long-term loan options and determining suitable interest rates. PMC will utilize the funds to establish new STP facilities, particularly in the recently merged areas that lacked proper sewage management systems.

As an advisor to the mega project, the IFC will survey various sites in Pune and provide guidance to PMC for the implementation of the long-term project. This collaboration aims to enhance sewage management infrastructure and improve the overall environmental conditions in the city.

The Maharashtra government has also signed a separate agreement with the IFC to support capital and long-term projects. Moreover, for the older areas of the city, PMC has secured funding from the Japan International Cooperation Agency (JICA) to carry out a river rejuvenation program, which includes the installation of STPs in the Peth areas.