On 03.06.2015, a
Loan Agreement was signed between the Government of India/ Government of Tamil Nadu and
World Bank. The objective of the agreement is to seek assistance of US$ 400
million from World Bank for Tamil Nadu Sustainable Urban Development Project.
The project aims to improve urban services in
participating Urban Local Bodies (ULBs) in a financially sustainable manner and
to pilot improved urban management practices in selected cities. The project
consists of three main components: Investment in Urban Services; Result Based
Grants for Urban Governance; and Urban Sector Technical Assistance.
-Ministry of Finance
Source: Legal news India