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World Bank agrees to lend Rs.1,431 crore
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World Bank agrees to lend Rs.1,431 crore

Chief Minister moots separate mechanism to complete projects

Giving a major fillip to urban development in the State, the World Bank has approved to loan Rs.1,432.91 crores under the Andhra Pradesh Municipal Development Project. At a meeting on urban development held, the Chief Minister, K Rosaiah said that the World Bank loan would provide a big impetus to the government's initiative in taking up qualitative works in various municipalities to meet civic and infrastructure requirements.

Rosaiah directed the officials of the department to develop a separate mechanism for completion of various works under the project on schedule and wanted them to enter into the loan agreement at the earliest. The project will support improvements in financial, technical and management capacities of all urban local bodies in the State through technical assistance and as a condition for infrastructure financing.

Of the total project cost Rs.1,670.55 crore, the State Government's share will be Rs.238.64 crore. The project will be executed over a period of five years. It will commence on February 15 this year and is expected to be completed by December 31, 2015. The project will finance works or goods to build, upgrade or improve efficiency of municipal facilities like roads, sewerage, water suppl, sanitation, solid waste management, street lighting and community centers.

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