PMC Agreement With IFC | Towards Sustainable Development: Municipal Corporation’s Loan for Village Sewage Treatment
Pune: PMC Agreement With IFC | The Municipal Corporation has entered into an agreement with the International Finance Corporation (IFC) to secure a loan for setting up a sewage system in the villages that have been included within the municipal limits. This initiative aims to address the lack of proper sewerage systems in these villages.
Between October 2017 and June 2021, a total of 34 villages were included within the municipal limits in a phased manner. The municipal administration has prepared a sewage plan worth 423 crore for the villages included in October 2017. To fund the sewerage system in these villages, the Municipal Corporation has partnered with the International Financial Corporation. The International Financial Corporation will study and plan the sewage treatment centers, ultimately increasing their number in the included villages.
Additionally, the Municipal Corporation has already undertaken the Jayka project, which focuses on preventing sewage from entering the city’s riverbed. Under this project, eleven new sewage treatment plants are planned to be constructed in the city. The project has been included in the National River Improvement Scheme, and the Central Government has formed an agreement with the Japan-based Jayka Company. The central government will receive a loan of 980 crores from Jayka Company, which will be given to the municipal corporation in the form of a subsidy. The project is currently in progress.
Considering the absence of a sewerage system in the included villages, the Municipal Corporation is taking steps to establish sewage treatment projects. As part of the agreement with the International Financial Corporation, the corporation will act as a consultant for the 1,000 crore project. The International Financial Corporation will provide detailed guidance on acquiring a long-term loan and determining the applicable interest rate. In the first phase, a loan of at least Rs 300 crore is expected to be taken for sewage treatment projects in the included villages.
Previously, the Municipal Corporation had secured a loan bond of 200 crores for a water supply scheme. Subsequently, the municipal administration initiated further loan proceedings for this scheme. The forthcoming loan for the sewage system raises the question of whether the sewage system in the included villages will be effectively improved.
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