EUR 100 million loan for 15 Smart Cities Project

By Accommodation Times Bureau

The Minister of Housing and Urban Affairs on Monday announced the launch of the Smart cities digital payment award, he said that it is intended to promote ‘Digital India’ and ease of living for India’s urban residents by promoting digital payments and encouraging Smart Cities to adopt innovative digital payments initiatives.

Minister launched several new initiatives under AMRUT and the Smart Cities Mission, here on Monday.

After selecting 100 smart cities now its turn to project implementation in line with the NITI Aayog guideline where under the Indo-French partnership program, at least 15 projects would be selected through an All-India Challenge. The projects would be in four sectors- Sustainable Mobility, Public Open Spaces, Urban governance & ICT and Social and Organizational Innovation in low-income settlements, Minister said during launching the Smart Cities fellowship and internship program.

Puri said, “A Loan of EUR 100 million would be extended by AFD to selected cities projects in the form of a grant. The repayment of the principal and interest would be equally shared by the Central Government and State Government on 50:50 basis.”

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