City to get first tranche of World Bank aid next week

THE GREAT MUMBAI MAKEOVER

It's now only a week left that Mumbai's makeover into a megapolis will begin. Next week, Mumbai will sign an agreement with 'City Reliance', an arm of the World Bank (WB), for the availing the first installment of the World Bank's aid for the city's recast.

Following the MoU, Rs 2 crore will be made available to all Indian institute of local self governments (AIILSG) that will provide support services to the taskforce constituted to prepare the business plan for the city's makeover.

Confirming this, a senior government official said: "The state government had made an application seeking the Rs 2 crore assistance from the 'City Reliance' arm of the WB, which has now been cleared. The MOU will be inked within a few days and the funds will be routed through the AIILSG."

Support services will include hiring of consultants by AIILSG for technical expertise.

"The taskforce has already been set up by the Maharashtra government as per the guidelines of the WB. We have included more local self government heads (read municipal corporation chiefs) on the taskforce and are awaiting the WB to announce the name of its representative," the official said.

He added that AIILSG's role will be to support the taskforce for fleshing out a business plan by June end and also support policy initiatives required to be pushed through with the Maharashtra government.

Once the business plan is ready, AIILSG will also play a crucial role in deciding on the agency that will take care of specific aspects of Mumbai's redevelopment.

At present AK Jain, additional municipal commissioner of Brihanmumbai Municipal Corporation (BMC), has been deputed on loan to the AIILSG to head the WB funded initiative.