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World bank loan for Karnataka
Our Bureau
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Improving financia viability of urban local bodies
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Bangalore
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March 15
The World Bank has approved a $216-million loan to the Karnataka Municipal Reforms Project (KMRP) to improve the financial viability of the urban local bodies (ULBs) and help them expedite infrastructure projects.
All eight local bodies of Bangalore and 17 ULBs would benefit under the project in the initial phase. The State Government would also give a grant of Rs 5-20 crore to the ULBs depending on their eligibility. The cost of the KMRP, estimated at $310 million, would be funded with the State Government and ULBs contributing 16 and 10 per cent respectively, and the balance portion being funded by the World Bank loan.
The KMRP project would be implemented in five years, starting from the current financial year, said official sources.
Bangalore Mahanagar Palike would be allocated Rs 155 crore for upgradation of 130 km of roads and Rs 550 crore to the Bangalore Water Supply and Sanitation Board..
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