SUSTAINABLE MUNICIPAL INFRASTRUCTURE FINANCING –TAMIL NADU (SMIF-TN)
Sustainable Municipal Infrastructure Financing –Tamil Nadu (SMIF-TN)was launched with the assistance of KfW and the loan documents have been executed on 9 th July 2008. The Government accorded administrative sanction for the implementation of SMIF-TN line of credit on 3.11.2008.
COMPONENTS OF THE PROJECT
The total outlay of the project is Euro 77 million consisting of Euro 65 million development loan for refinancing of sub-projects (Euro 45.50 million equivalent to Rs. 295 crores in the form loan and Euro 19.50 million equivalent to Rs.127 crores in the form of capital grant), Euro 10 million standard loans for Master Financing Indenture (MFI), and Euro 2 million complementary measures (grant) for strengthening the technical capabilities.
PROJECTS UNDER IMPLEMENTATION
The funds (loan of Rs.187.52 crores and grant of Rs.101.20 crores) has been committed for 7 sub-projects. The balance funds available is Rs.133.28 crores (loan of Rs.107.48 crores and Grant of Rs.25.80 crores). Out of the 7 sub-projects 3 sub-projects are under implementation and the remaining 4 sub-projects are in procurement stages. A sum of Rs.18.50 crores (Rs.10.00 crores as loan and Rs.8.50 crores as capital grant) has been disbursed up to 31.3.2009.