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SUSTAINABLE MUNICIPAL INFRASTRUCTURE FINANCING –TAMIL NADU (SMIF-TN)

SMIF-TNwas launched on 9 th July 2008. The Project implementation period is five years. The objective of the Project is to promote municipal infrastructure projects with positive environmental effects in Tamil Nadu, to promote private financing for urban infrastructure projects and to develop municipal bond market through Master Financing Indenture.

The total outlay is Euro 77 million (equivalent to about Rs.500 crores) consisting of Euro 65 million (equivalent to about Rs.422 crores) for financing urban infrastructure projects (Rs.271.20 crores in the form of term loan and Rs.150.80 crores in the form of capital grant), Euro 10 million (equivalent to about Rs.65 crores) as loan to Water and Sanitation Pooled Fund for development of municipal bond market, and Euro 2 million (equivalent to about Rs.13 crores) towards grant for strengthening the technical capabilities.

The funding assistance available under SMIF-TN to provide loan to ULBs for implementation of urban infrastructure projects is Rs.271.20 crores. A sum of Rs.271.09 crores has been committed for 14 projects and the balance amount available is Rs.0.11 crores. Of the above 14 projects 3 projects have been completed and 11 projects are under implementation. As on 31.03.2012 a sum of Rs.108.89 crores has been disbursed as term loan to the projects based on the progress of the projects.

PROJECT APPROVALS

During the financial year 2011-12, 14 urban infrastructure projects with a total project cost of Rs.628.70 crores have been financed and a sum of Rs.124.02 crores has been sanctioned as term loan. The sector wise financial assistance is as detailed below:

( Rs. in Crores)

Sl. No.

Sector

No. of projects

Project Cost

Term Loan Sanctioned

1

Sewerage & Sanitation

6

272.49

26.77

2

Water Supply

6

338.71

87.35

4

Bus Stand

2

17.50

9.90

 

Total

14

628.7 0

124.02

DISBURSEMENTS

During the financial year 2011 - 2012, a sum of Rs.85.36 crores has been disbursed as loan as detailed below: ( Rs. in Crores)

Sector

Amount disbursed

 

2011 – 2012

2010 – 2011

Sewerage & Sanitation

31.47

84.05

Water Supply

38.00

64.16

Roads, Bridges, Storm Water Drains & River Improvement

8.94

31.28

Bus Stations and Office Building

6.95

5.86

Total

85.36

185.35