The Greater Visakhapatnam Municipal Corporation (GVMC) has received a landmark investment of USD 60 million (Rs 498 crore) from the International Finance Corporation (IFC), a World Bank Group member, for the Madhurawada Sewerage System Project.

The trust deed was signed by GVMC Commissioner Ketan Garg and IFC Asia Head Victoria Delmon in the presence of CM N. Chandrababu Naidu and Principal Secretary Suresh Kumar. Madhurawada, home to over 2.5 lakh people, has long suffered from poor sanitation, leading to untreated wastewater polluting water bodies.

The project, with a total cost of Rs 553 crore, will be financed by IFC through non-convertible debentures (Rs 498 crore), AMRUT 2.0 (Rs 45.64 crore), and GVMC resources (Rs 9.36 crore). It includes a 400 km sewer network, pumping stations, and a 38 MLD sewage treatment plant to be developed in phases.

The 15-year loan carries 8.15 percent interest with a 3-year moratorium. By 2030, 100 percent coverage of households in Madhurawada is expected, benefiting 82,900 families, improving health, boosting resilience, creating jobs, and attracting further investments.