GVMC Loan

pending

The proposed investment comprises an International Finance Corporation (IFC) A-loan of up to US$60 million in INR equivalent, to Greater Visakhapatnam Municipal Corporation (“GVMC”), an urban local body in the state of Andhra Pradesh. GVMC is responsible for the civic infrastructure and administration of the city of Visakhapatnam. The proposed investment would finance the development of Madhurawada Sewerage System in the northern part of the city as it is one of the fastest growing executive capital area in the city. The project involves the development of sewage collection network, sewage pumping stations, lift stations, and sewage treatment plant. The benefits of the proposed project are increased sustainability of sanitation services, improved environmental outcomes, mitigation of greenhouse gases, and cost efficiency.