IFC Pledges ₹498 Cr for GVMC Sewerage Project in AP

Current Context: 8 September 2025, Amaravati, Andhra Pradesh – International Finance Corporation (IFC), a member of the World Bank Group, committed ₹498 crore (USD 60 million) via Rupee‑denominated Non‑Convertible Debentures (NCDs) to the Greater Visakhapatnam Municipal Corporation (GVMC).

• Funds will support the Madhurawada Sewerage System Project, including a 400 km underground sewer network, pumping stations, and a 38 Million Litres per Day (MLD) Sewage Treatment Plant (STP).
• Objective: Achieve 100% sewerage coverage in Madhurawada by 2030, benefiting around 2.5 lakh residents.
• This marks India’s first‑ever direct municipal financing by IFC and the first without a sovereign guarantee.
• Total project cost: ₹553 crore, with the balance funded by Atal Mission for Rejuvenation and Urban Transformation (AMRUT 2.0) and GVMC.

Question:

Q.1 On 8 September 2025, which institution committed ₹498 crore via Rupee-denominated Non-Convertible Debentures (NCDs) to the Greater Visakhapatnam Municipal Corporation (GVMC)?
a) International Finance Corporation (IFC)
b) World Bank (WB)
c) Asian Development Bank (ADB)
d) New Development Bank (NDB)

Answer: a) International Finance Corporation (IFC), part of the World Bank Group, made the commitment. This is notable because it was India’s first direct municipal financing by IFC.