The Asian Development Bank (ADB) signed two agreements for $500 million loans with the government for the management of urban services in the state of Rajasthan. ADB said $250 million policy loan will be used to help Rajasthan to finance creation of a corporate-style state body to promote urban services development and an independent utility in Jaipur to oversee water and wastewater operations in the state capital. Rest of $250 million project loan will support water system improvements in five cities – Hanumangarh, Jhunjhunu, Pali, Sri Ganganagar, and Tonk – which currently have low piped water coverage and high water losses.
Points to Remember
- A world heritage site, Jaisalmer fort is in Rajasthan. It is one of the largest fortifications in the world.
- The 36 km long wall of the Kumbhalgarh Fort in Udaipur is the second largest continuous wall in the world.
- The first city based on the scientific principles of architecture was the city of Jaipur.
- The Asian Development Bank (ADB) is a regional development bank established on 22 August 1966 which is headquartered in Metro Manila, Philippines, to facilitate economic development in Asia.
- From 31 members at its establishment, ADB now has 67 members, of which 48 are from within Asia and the Pacific and 19 outside.
- Takehiko Nakao elected the ninth president of the Asian Development Bank in 2013.
Test Your Knowledge
Who was the chief architect and city planner of Jaipur city?