ADB offers loans for Smart City projects

  1. Context: The Asian Development Bank has agreed to extend a loan of $1 billion for the Smart City Projects
  2. The World Bank is also willing to give a loan of $0.5 billion
  3. Ratings: The cities should work toward achieving decent enough credit ratings from agencies approved by the SEBI
  4. Why? This is important for resource mobilisation and the creation of municipal- level bonds
  5. The process for the credit rating of 85 cities had already been initiated under AMRUT
Urban Transformation – Smart Cities, AMRUT, etc.
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