Consider the following statements with respect to a new

Solution

The World Bank has approved a new program to support Tamil Nadu and provide around 2 million people with more and better access to water and sewerage services in cities. The $300 million Tamil Nadu Climate Resilient Urban Development Program will help 21 Urban Local Bodies (ULBs) update their delivery systems and provide quality and efficient water supply and sewerage services to consumers. The $300 million loan from the International Bank of Reconstruction and Development (IBRD) will use the blended financing instrument of Program-for-Results (PforR) with Investment Project Financing (IPF) to link disbursement of funds directly to the achievement of results while providing technical assistance. The Program loan has a maturity of 32 years with a grace period of 7 years.