WB fires Rs. 677-cr into water infra project

In a major booster to strengthen the water infrastructure in Bangalore, the World Bank has cleared a staggering sum worth Rs. 677-cr as loan for Karnataka Urban Water Supply Modernisation Project. In this connection, an agreement was signed by Department of Economic Affairs Joint Secretary Raj Kumar on behalf of India and World Bank's India Acting Country Director Michael Haney on behalf of World Bank. Karnataka Urban Infrastructure Development & Finance Corporation (KUIDFC) is the implementing agency for the project. It will be implemented over a period of six years, initially in the twin cities of Hubballi-Dharwad, with provision for other eligible cities to join the project at a later stage and will help the Hubballi-Dharwad Municipal Corporation to set up a city-level water utility that will take over water supply operations from the professional operating company at the end of its contract period, said official sources.