Agreement signed for WB assisted Karnataka Municipal Reforms Project

New Delhi, May 2 (UNI) A agreement for the World Bank assisted Karnataka Municipal Reforms Project was today signed to improve the infastructure in the Greater Bangalore Metropolitan Area especially roads and sewerage, and to strengthen the local level urban planning and management.

The tripartite agreement signed by Mr Madhusudan Prasad, Joint Secretary, Department of Economic Affairs, Mr Micheal F Carter, Country Director World Bank and Mrs Shamim Banu, Principal Secretary Urban Development Department of Government of Karnataka aims to support project implementation including incremental operating costs and a project development advisory facility to support preparation and implementation of sub-projects by Urban Local Bodies ULBs.

The components of the project includes to provide Municipal Investment Support to enhance the urban infastructure and services delivery through investment support for upgrading urban services.

The World Bank will provide a loan of 216 million dollars for the project, while the rest of the money would come from the Karnataka Government (85 million Dollars) and participating Urban Local Bodies (9 million Dollars) for the project implementation.

Union Civil Aviation Minister Praful Patel was present at the signing ceremony in his capacity as Vice President, South Asia Region of the World Bank, an official release said.

UNI MCN RA KP1857