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Tamil Nadu to Receive $169 mn Loan from ADB
November 22, 2018
The Government of India and the Asian Development Bank (ADB) have signed an agreement for a $169 million loan that will be used for the development of drainage infrastructure, sewerage, and climate-resilient water supply in at least 10 cities in Tamil Nadu. The loan is the first tranche of a promised $500 million loan.
Sameer Kumar Khare who is the Additional Secretary, Department of Economic Affairs in Ministry of Finance said that the ADB’s financial support will help Tamil Nadu to recover from erratic monsoons and recurring droughts that it has suffered from in the recent past.
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