Chennai is set to get disaster mitigation and civic projects under the Indo-German Bilateral Development Cooperation shortly.
With a delegation of the Federal Ministry of Economic Cooperation and Development from Germany visiting India this week, funding for flood mitigation projects in various parts of the city are set to be cleared.
On Thursday, Chennai Corporation Commissioner G. Prakash and Chief Engineer Nandakumar attended a tripartite meeting in New Delhi with the Department of Economic Affairs and German development bank KfW to receive funding for the projects.
“Following the meeting, many KfW-funded projects will be signed for loan tie-up by the end of October,” said an official. The team of officials from Germany will visit Chennai in the first week of July to assess stormwater drainage.
“This is a step-by-step process. The feasibility study by KfW has been completed. Design consultancy services will be appointed by KfW for preparation of cost estimates and bid documents,” said an official. The project will get ₹1,230-crore funding.
At least 70% funding will be from KfW, 30% from the Central government, State government and Chennai Corporation.