AP To Get $ 515 Mn World Bank Aid
The World Bank has agreed to fund 2 projects for water and pollution management in Andhra Pradesh.
Hyderabad | 6th June 2010
The World Bank has agreed to fund 2 projects for water and pollution management in Andhra Pradesh, and is set to release USD 515 million for the purpose.
The two projects will see USD 450.60 million being utilised to improve the water sector, while USD 64.15 million will be set aside for the rehabilitation of people from polluted sites.
According to a press release by the World Bank, the 450.60 million dollar loan from the International Bank For Reconstruction and Development (IBRD) has a 30-year maturity, including a 5-year grace period.
Of the 64.15 million dollar credit for rehabilitation of polluted sites, 38.94 million dollars come from the International Development Association (IDA), the World Bank's concessionary lending arm. It carries a 0.75% service fee, a 10-year grace period, and a maturity of 35 years; while the remaining component of 25.21 million dollars has a 30-year maturity, including a 5-year grace period, the statement added.
The aid is aimed at strengthening the state's institutional capacity for multi-sectoral planning, development and management of its water resources.
The project will contribute to the rehabilitation and modernisation of the Nagarjuna Sagar Scheme (NSS), a large multi-purpose project which generates hydro power, supplies water for industries, rural and urban drinking water and irrigation water to an area of about 9 lakh hectares.
There are about 36,000 industries in the country which generate about 6.2 million tonnes of hazardous waste annually. Large quantities of industrial sludge and effluents laden with heavy metals are dumped in open areas, in rivers, around residential compounds, and on farm land. Such toxic dumps have contaminated soil and groundwater, affecting the health of local communities.
The World Bank said the industrial pollution management project, however, is designed as a pilot in view of large scale contamination of areas across India.
filed in: Infrastructure, Development Projects, World Bank, Water Issues