ADB clears $150 million loan for urban poor housing project in Tamil Nadu

The Asian Development Bank has authorized a USD 150 million (about Rs 1,095 crore) loan for a sustainable housing project in Tamil Nadu for the urban poor.

According to the TA, practical initiatives to affordable housing delivery, such as the graduation program for disadvantaged relocation beneficiaries, will be documented and replicated in other cities and countries.

The loan to offer urban poor in Tamil Nadu access to inclusive, resilient, and sustainable housing was granted on September 3, 2021, according to an announcement made by the Asian Development Bank on Monday.

According to the Manila-based finance agency, Tamil Nadu is critical to India’s economic growth, generating 8.54 percent of the country’s gross domestic product (GDP).