Financial Daily from THE HINDU group of publications
Saturday, Jul 16, 2005

News
Features
Stocks
Port Info
Archives
Google

Group Sites

Industry & Economy - Infrastructure
Money & Banking - RBI & Other Central Banks


World Bank to fund municipal projects in AP

Our Bureau

Hyderabad , July 15

THE World Bank has agreed `in principle' to fund the Andhra Pradesh Urban Reforms and Municipal Services Project (APURMSP), the Chief Minister, Dr Y.S. Rajasekhara Reddy, announced here.

Of the Rs 1,320-crore project cost, the Bank would fund Rs 1,015 crore while the balance Rs 305 crore would be the State Government's share. A part of this money would be raised by municipalities. To avoid delay, the Bank had permitted the State Government to spend Rs 200 crore immediately and offered to reimburse the same once the bills were submitted, the Chief Minister said.

Reviewing the project details at a meeting, Dr Reddy told officials that the programmes under the APURMSP should be worked out in such a manner that not a single home was untouched by the developmental activities.

The World Bank board of directors would soon formally clear the project, to be implemented over a period of five years. Municipalities in the State were also expected to get much-needed funds to implement their programmes.

A World Bank team had recently firmed up the project at a meeting with senior officials of the Andhra Pradesh Government. The WB-aided project would be in addition to the Rs 600 crore already earmarked by the State Government in the annual budget for Urban Local Bodies (ULBs) for water supply schemes, slum development etc., he said.

The State Government would sanction to the urban local bodies, in the form of a grant, 50 per cent of the project cost for activities taken up in slum/low-income settlements and solid waste management projects. Allaying apprehensions, the Chief Minister said there were no strings or conditions attached to the loan. All that the State Government had to do was to comply with the reform agenda put forth by the Government of India under the Urban Reform Incentive Fund and National Urban Renewal Mission. The guidelines were applicable to all State Governments to access any form of central assistance, he added.

For instance, one of the conditions is ensuring 75 per cent collection of property taxes whereas the average performance in respect of ULBs in AP has been around 80 per cent. The other is putting in place a Citizen's Charter, an initiative being implemented by most municipalities in the State.

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page


Stories in this Section
Rogue Bay system seen delaying `break monsoon'


Left unions to press for 9.5% EPF rate
One-stop shop for home décor products to open in November
Price stability, prime concern for RBI
Inflation falls on lower food prices
Environmental watch on Sethusamudram
Kerala: Qatar shows interest in 7 projects
The new `lifeline' with neighbours
Dr Reddy's plans global meet on gastro cancer
Raging bull
World Bank to fund municipal projects in AP
CII summit on sustainable infrastructure in Hyderabad
Rain brightens Kerala's hydel power prospects
Dabhol SPV: Govt asks parties to finalise shareholders' pact
Ratnagiri Gas PPA likely soon
Posco to invest $900 m for port in Orissa
Indian textile exporters plan to sell their brands abroad
Textile institute at Coimbatore receives donation
SSI sector wants dues settled within 30 days
Management programme at Balanagar
Desalination plant planned for Bhimli
Coal cos, unions sign wage pact
Gecis ties up with Osmania varsity
ICAR develops tech for ready-to-eat fish curry
Maharashtra gets approval for orange, banana export zones
Move to shift part of jewellery trade to interior Maharashtra
Tirupur units to meet today on HC closure order
Nabard aid for Alappuzha
New electromagnetic test facility launched at Taramani
AP team to visit VW headquarters
Due date for filing TDS statements extended
Help centre for taxpayers at FAPCCI premises
Kerala gets Rs 10.69 cr under ASIDE
Tourism Ministry starts new project for rural areas


The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright © 2005, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line