Mumbai, March 11 (IANS) The Maharashtra cabinet, chaired by Chief Minister Eknath Shinde, on Monday, cleared an Rs 850 crore loan to be raised by Mumbai Metropolitan Region Development Authority (MMRDA) from Germany’s KfW development bank for providing urban infrastructure amenities with a rider that the government will not bear any burden towards repayment of the principal loan amount, interest, and delayed payment fees.
The proceeds will be used for the solid waste management projects and division of solid and liquid waste undertaken by the Ambarnath and Kulgaon-Badlapur Municipal Councils and the Ulhasnagar Municipal Corporation.
The cabinet also approved a grant worth Rs 18.77 crore to be taken by the MMRDA from KfW for providing urban infrastructure amenities.
The total project cost of the MMR Urban Infrastructure Amenities Project is of the order of Rs 1,215 crore. Of this, the MMRDA will contribute Rs 365 crore from its corpus.
The cabinet has authorised the Principal Secretary, Urban Development, to enter a loan agreement with KfW.
–IANS
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