ADB to lend $75 mn for 24-hour water supply in Karnataka towns
India on Tuesday signed a $75-million loan agreement with the Asian Development Bank (ADB) to provide round-the-clock water supply to Karnataka’s four coastal towns of Kundapura, Mangalore Puttur and Udupi, and to improve sanitation infrastructure in Mangalore town.
The project finances would be used to augment water treatment production capacity by about 16 millions liters per day, lay about 90 kilometers of new water transmission lines and feeder mains, construct 29 overhead tanks and four ground-level service reservoirs, the Finance Ministry said in a statement.
It added that the project would also include establishing town-level supervisory control and data acquisition system to strengthen centralised supervision and control of water flow and water pressure.
The $75-million tranche-one loan is being used to strengthen urban water supply and sanitation services in three other towns of the state — Byadagi, Davangere and Harihar.
The Asian Development Bank (ADB) is a regional development bank established on 19 December 1966, which is headquartered in the Ortigas Center located in the city of Mandaluyong, Metro Manila, Philippines. The company also maintains 31 field offices around the world to promote social and economic development in Asia. The bank admits the members of the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP, formerly the Economic Commission for Asia and the Far East or ECAFE) and non-regional developed countries, From 31 members at its establishment, ADB now has 67 members, of which 48 are from within Asia and the Pacific and 19 from outside. The ADB was modeled closely on the World Bank, and has a similar weighted voting system where votes are distributed in proportion with members’ capital subscriptions. ADB releases an annual report that summarizes its operations, budget and other materials for review by the public.