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World Bank resumes lending to MUTP
Special Correspondent
NEW DELHI:
The World Bank has lifted suspension on its financing for the Mumbai Urban Transport Project (MUTP) which involves a road and rail renewal programme for improving public transportation in the metro.
The decision to resume lending was communicated by World Bank President Paul Wolfowitz in a letter to Finance Minister P. Chidambaram here on Friday. Mr. Wolfowitz also conveyed the Bank's positive assessment on the progress on the action plan for the MUTP, a major initiative in the vision of making Mumbai a world-class city.
While expressing concern over the rehabilitation of the affected people, the World Bank had on March 1, 2006, suspended the funding of two components of the MUTP covering resettlement and road development. These involved a total assistance of about Rs. 1,031 crore from the World Bank.
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