The Hindu : Tamil Nadu / Chennai News : Japan bank’s Rs. 280-crore aid for urban projects likely

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Saturday, Jun 16, 2007
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Tamil Nadu

Tamil Nadu - Chennai

Japan bank’s Rs. 280-crore aid for urban projects likely

K. Manikandan

Representatives meet officials of Tambaram and Pallavaram Municipalities

WORKING OUT AID: Representatives of the Japan Bank for International Cooperation meeting officials of Tambaram Municipality on Friday.

TAMBARAM: The Japan Bank for International Cooperation (JBIC) intends to extend about Rs. 280-crore financial assistance for various infrastructure projects in urban areas of Tamil Nadu.

Repayment tenure of 40 years and low interest rates were a few key features of the assistance. It would be disbursed to the beneficiary urban local bodies through the Tamil Nadu Urban Development Fund (TNUDF), said officials who participated in a meeting on Friday with JBIC representatives.

Representatives from Nomura Research Institute, Tokyo, which is conducting a survey on behalf of the JBIC, Transwel, the Delhi-based consultant for the bank, and officials of TNUDF and the Department of Municipal Administration and Water Supply met in Tambaram and Pallavaram.

Urban areas adjoining Chennai and other places in the rest of Tamil Nadu, including Hosur and Tirupur, would benefit from the JBIC’s assistance, they said.

Researchers from Nomura Research Institute would visit these places. To begin with, they met elected representatives and officials of Tambaram and Pallavaram Municipalities. They would be visiting Madhavaram, Alandur and other urban local bodies near Chennai and other parts of Tamil Nadu.

The objective of their discussions with the elected representatives and officials is to get to know the requirements of the local bodies, particularly basic facilities, besides large infrastructure projects relating to solid waste management, sewage and transport.

One of the conditions that the local bodies need to meet for availing themselves of the soft loan was that the projects taken up under the assistance should be eco-friendly.

Officials said the modalities for selection of towns, projects and size of financial assistance were still being worked out. Though JBIC’s proposed assistance was Rs. 280 crore, it could be increased depending on the need, they said.

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