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