'One billion dollar loan sought from WB for urban dev projects'

India has sent a proposal to the World Bank seeking a loan up to one billion dollar to fund its urban development projects here, Lok Sabha was informed today.

"Ministry of Urban development has taken initiative to get World Bank assistance for Urban Sector projects," its minister of state Saugata Roy stated in a written reply to a question in the Lower House.

Department of Economic Affairs has recommended a proposal to the World Bank for a "loan assistance up to one billion dollar", the minister said.

Roy was asked whether the government proposes to seek financial assistance from the World Bank to fund its urban projects under Jawaharlala Nehru national Urban Renewable Mission (JNNURM).

He said the Planning Commission has conveyed its approval to the Preliminary Project Report with suggestions relating "inter-alia to the scope of urban services to be covered, eligibility of Urban Local Bodies and focus on capacity building".