World bank approves $426 million loan to revive Bengaluru's 183 lakes
Bengaluru: The World Bank approved a $426 million (Rs 3,700 crore) loan for the 'Karnataka Water Security and Resilience Programme' to help revive the city's 183 lakes. These lakes act as natural sponges during heavy rainfall.
On June 23, the World Bank's Board of Executive Directors approved the new programme which will improve water security for more than four million residents in Bengaluru. It will help Bengaluru cope with increased extreme weather events that are posing a challenge to the pace of economic growth.
It will develop and implement advanced flood modelling, utilizing computer simulations to predict where, when, and how flooding might occur.
This will help optimise future investments in the city's resilience.
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The programme will construct nine sewage water treatment plants (STPs) to prevent sewage from entering lakes and drains. The treated wastewater will be reused for industrial purposes, as well as for recharging groundwater in the greater Bengaluru area. In addition, over 100,000 households will get sewerage connections for the first time.
Auguste Tano Kouame, the World Bank's Country director for India, saidl: "The programme will increase revenues of the Bangalore Water Supply and Sewerage Board and mobilise $5 million in private capital.
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This will improve efficiency, restore ageing water pipes, and tap the private sector to create innovative tools like smart water meters."
Kristoffer Welsien and Anup Karanth, the Task Team Leaders for the programme, said: "This programme will also help communities through early warning systems and response to extreme weather by strengthening the Karnataka State Natural Disaster Monitoring Centre."
The loan from the International Bank of Reconstruction and Development (IBRD) has a maturity of 20 years with a grace period of 5 years.
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