Agreement for SUTP signed with World Bank
An agreement for World Bank assisted Sustainable Urban Transport Project (SUTP) was signed between Government of India and World Bank, here today. It was signed by Dr. Anup K. Pujari, Joint Secretary, Department of Economic Affairs on behalf of the Government of India and by Mr N. Roberto Zagha, Country Director on behalf of the World Bank.
The project will have a loan component of US$105.23 million from International Bank for Reconstruction and Development(IBRD) and a grant of US$20.33 million from Global Environment Facility(GEF).
The IBRD loan has a variable spread over LIBOR and is a US $ denominated loan. The projects will be implemented over a period of five years.
The objective of SUTP is to promote environmentally sustainable transport and to improve the usage of environmentally friendly transport modes in project cities. The project consists of Capacity Development Assistance for selected Cities and City Demonstration Projects.
The project will be implemented in five cities of four States: Maharashtra (Pune & Pimpri-Chinchwad), Madhya Pradesh (Indore), Chhattisgarh( Naya Raipur) and Karnataka (Mysore).
On behalf of the States, the Project Agreements were signed by Shri Manu Kumar Shrivastava, Secretary, Urban Development, Government of Maharashtra , Shri Vivek Shrotriya, Joint Collector and CEO, Atal Indore City Transport Services Ltd, Government of Madhya Pradesh, Shri Shyam Sundar Bajaj, Special Secretary, Housing and Environment Department, Government of Chhattisgarh and Shri Shambhu Dayal Meena, Secretary, Urban Development, Government of Karnataka. The signing was done in the presence of Shri S K Lohia, OSD (UT), Ministry of Urban Development.
An agreement for World Bank assisted Sustainable Urban Transport Project (SUTP) was signed between Government of India and World Bank, here today. It was signed by Dr. Anup K. Pujari, Joint Secretary, Department of Economic Affairs on behalf of the Government of India and by Mr N. Roberto Zagha, Country Director on behalf of the World Bank.
The project will have a loan component of US$105.23 million from International Bank for Reconstruction and Development(IBRD) and a grant of US$20.33 million from Global Environment Facility(GEF).
The IBRD loan has a variable spread over LIBOR and is a US $ denominated loan. The projects will be implemented over a period of five years.
The objective of SUTP is to promote environmentally sustainable transport and to improve the usage of environmentally friendly transport modes in project cities. The project consists of Capacity Development Assistance for selected Cities and City Demonstration Projects.
The project will be implemented in five cities of four States: Maharashtra (Pune & Pimpri-Chinchwad), Madhya Pradesh (Indore), Chhattisgarh( Naya Raipur) and Karnataka (Mysore).
On behalf of the States, the Project Agreements were signed by Shri Manu Kumar Shrivastava, Secretary, Urban Development, Government of Maharashtra , Shri Vivek Shrotriya, Joint Collector and CEO, Atal Indore City Transport Services Ltd, Government of Madhya Pradesh, Shri Shyam Sundar Bajaj, Special Secretary, Housing and Environment Department, Government of Chhattisgarh and Shri Shambhu Dayal Meena, Secretary, Urban Development, Government of Karnataka. The signing was done in the presence of Shri S K Lohia, OSD (UT), Ministry of Urban Development.
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