Maharashtra seeks World Bank funds for infrastructure projects

The state government, while making its presentation to the team from World Bank (WB) in Mantralaya on Monday, sought financial assistance for its infrastructure and water supply improvement projects.

The government has demanded assistance of $40 billion for the study of the metro and monorail corridors, $185 million for water sector improvement projects, and assistance for the phase III of Mumbai Transformation Support Unit (MTSU), which costs $250,00 million per annum. It has also sought sizable assistance for its third phase of the $6.7bn Mumbai Urban Transport Project (MUTP).

Chief minister Prithviraj Chavan, along with key bureaucrats, met the WB team led by its managing director Ngozi Okonjo Iwealas on Monday. Emphasising its focus on the Mumbai Metropolitan Region, which accounts for 37% of the state GDP and 70% of tax collection, the government has sought financial assistance for the projects being implemented here.

MTSU, which was formed in 2005 for transforming the city and its suburbs, has received continuous financial assistance through phase I and II. The state has also sought funding of $6.7 billion for phase III of MUTP to create additional tracks of 850km.

Chavan, after the meeting, told media persons that the government sought the financial assistance for some big government projects including MUTP, Jalswarajya and projects related to the irrigation. He said that they also discussed issues related to the value of land urban housing.

Refusing to elaborate on specific projects, Iwealas congratulated Chavan on introducing reforms on land-related issues.