The Maharashtra government and the World Bank are trying to put the past behind, and start afresh. In March this year, the bank had temporarily suspended the $150-m funding to the road and resettlement component of the Mumbai Urban Transport Project being implemented by the Mumbai Metropolitan Region Development Authority (MMRDA) for non-compliance of guidelines regarding resettlement of project affected persons (PAPs). The funding was resumed in June.

On Wednesday, World Bank south Asia region vice-president, Praful Patel, said both the agencies were looking forward to a productive relationship. A World Bank team led by managing director Graeme Wheeler was in Mumbai for a presentation by government officials on a proposal to improve the city infrastructure.

Mr Patel and World Bank acting country director for India, Fayez Omar, said the Maharashtra government had put in an impressive performance on the resettlement of project-affected people. Maharashtra chief secretary DK Sankaran echoed the bank’s view that differences have been sorted out.

Read moer at:http://economictimes.indiatimes.com/articleshow/154493.cms

Article published on:http://www.investmentbankingcentral.com

http://economictimes.indiatimes.com/articleshow/154493.cms

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