1. Home
  2. Current Affairs
  3. Current News
  4. World Bank Commits $350 Million to Transform Chennai's Urban Landscape

World Bank Commits $350 Million to Transform Chennai's Urban Landscape

  • 10 Aug 2023

Recently, in a major urban development initiative, the World Bank pledged $350 million to finance projects aimed at creating walkable neighbourhoods with spacious and secure streets as part of the second phase of the Chennai City Partnership.

Key Points:

  • Focus on Walkable Neighbourhoods: The World Bank's funding will support the creation of walkable neighbourhoods with decongested and safe streets, aiming to enhance urban living and promote sustainable mobility.
  • Strengthening Urban Infrastructure: The second phase of the Chennai City Partnership will channel funds towards capacity building for key entities, including the Greater Chennai Corporation, the Chennai Unified Metropolitan Transport Authority (CUMTA), and the Metropolitan Transport Corporation.
  • Digital Chennai and Smart Solutions: The partnership places a strong emphasis on the advancement of Digital Chennai, introducing e-mobility solutions and smart parking systems to improve urban transportation.
  • Enhancing Public Transportation: Projects geared towards the improvement of bus services and suburban rail services are slated for implementation during the second phase.
  • Public-Private Partnerships: To support urban development, public-private partnerships will be forged to develop parking facilities, e-mobility infrastructure, and integrated transport hubs across the city.
  • Climate Resilient Infrastructure: A significant aspect of the partnership involves creating climate resilient public infrastructure, contributing to the city's overall preparedness in the face of environmental challenges.
  • Seamless Network Integration: Primary streets along transit routes will be strategically planned and integrated with schools and parks, fostering a seamless urban network.
  • Phased Approach to Roadway Transformation: The first phase of the Chennai Mega Streets Programme will target 110 km of arterial and sub-arterial roads, including notable routes like Monegar Choultry Road and Khader Nawaz Khan Road.