Bengaluru Secures Rs 1,500 Crore Loan From World Bank To Combat Floods, Canal Repairs

(MENAFN- AsiaNet News) In a major financial development, the Bruhat Bengaluru Mahanagara Palike (BBMP) has obtained a loan of Rs 1,500 crore from the World Bank. This funding is designated for bolstering the city's flood mitigation strategies and refurbishing the extensive Network of stormwater drains, commonly referred to as Rajakaluves, throughout Bengaluru.

Over the past six years, BBMP has shown a marked improvement in its financial health, reversing a history of substantial debts. It has managed to free all previously mortgaged buildings from debt and is now focusing on further bolstering its infrastructure to prevent flooding, a recurring issue in the city.
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The funds from the World Bank will primarily be used for the refurbishment of 173 kilometres of Rajakaluves. To date, more than 400 kilometres of these canals have already been restored. The ongoing project not only aims to repair the canals but also includes the beautification of their banks, transforming them into more appealing and functional urban spaces.

In addition to canal restoration, the World Bank loan will facilitate a range of other critical works. These include the renovation of major city lakes, desilting projects, drainage improvements, and measures to prevent sewage from entering the water bodies. These initiatives are part of a broader strategy to manage the city's chronic flooding issues effectively.

Simultaneously, the BBMP Jalmandal is also obtaining a Rs 1,000 crore loan from the World Bank. This funding will support the installation of a new underground drainage system and the construction of sewage treatment plants, among other infrastructural enhancements.
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BBMP Chief Commissioner Tushar Girinath stated that these efforts are still in the preliminary stages. A more detailed plan will be formulated and likely initiated after the Lok Sabha Election Code of Conduct concludes, ensuring all procedures are transparent and accountable.

The approval by the Union Department of Economic Affairs and the backing from the state government, which is providing a bank guarantee for the loan, highlight the collaborative effort at various governmental levels to address Bengaluru's infrastructural challenges.

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