AIIB approves $150m for green urban infrastructure in India

The Asian Infrastructure Investment Bank (AIIB), based in Beijing, has committed $150 million to the development of green and sustainable infrastructure and services in Chennai, according to a news statement issued by the bank on Thursday.

The money comes from the Asian Infrastructure Investment Bank’s “Chennai City Partnership: Sustainable Urban Services Program,” which aims to strengthen institutions and improve the quality and financial sustainability of selected urban services in Chennai, India’s southern Tamil Nadu state.

“The Tamil Nadu state government is transforming Chennai into a city that is green, livable, competitive and resilient, and the AIIB is lending a hand in line with its mission to finance green and resilient Infrastructure for Tomorrow (i4t),” according to the press release.

Tamil Nadu is one of the most densely populated states in India. While Chennai dominates the state’s demographic and economic landscape and is undergoing rapid physical growth and boundary changes, the city is also suffering from massive infrastructure deficits and poor service quality in key urban sectors such as water resource management, water supply and sanitation, urban mobility, solid waste management, and public health.