SUSTAINABLE URBAN SERVICES PROGRAM FOR CHENNAI METROPOLITAN AREA (CMA)

About:

• India is the largest beneficiary of AIIB and the bank has so far approved 29 projects for India worth 6.8 billion USD. The energy and transport sectors have received the highest amount of AIIB’s financing.
  
  
• The Chennai Metropolitan Area project is aimed at strengthening institutions and financing for improving the quality and sustainability of selected urban services in the CMA.
  
  
• It will cover the core urban services, including water resource management, water supply and sewerage, urban mobility, solid waste management, and public health.
  
  
• The total project cost is 701 million USD out of which AIIB and World Bank each will provide 150 million USD each. Rest of the cost will be borne by the Govt. of Tamil Nadu.
  
  
• AIIB in September approved a USD356.67 million loan for the construction of a new corridor in Chennai’s metro network as part of Chennai Metro Rail Phase 2.
  
  
• The Chennai Metropolitan Area (CMA) is home to around 11 million people and one of the fastest growing metropolitan areas in Asia with its growing economic significance in India.