PCMC to get Rs 210 crore loan for the project, for a 30-year-period

The much-awaited World Bank approval for three flyover projects in Pimpri-Chinchwad has finally arrived.

The World Bank has sanctioned Rs 210 crore to the Pimpri-Chinchwad Municipal Corporation (PCMC) for three flyover projects and an intelligent transport system. The PCMC hopes to start work on the three flyovers by January.

Municipal commissioner Asheesh Sharma said an agreement to this effect was signed by the PCMC and the World Bank in New Delhi a couple of days ago. The PCMC was among the first four cities in the country for which the World Bank has sanctioned the loan in the first phase of the programme, Sharma said.

The Central Government was in negotiations with World Bank for the PCMC projects since 2008 and the amount has been sanctioned under Sustainable Urban Transport Project. “The World Bank approval has come after we adhered to several norms set by it. The Bank scrutinises the detailed project report, the design and the tender document,” he said.

The civic chief said the PCMC had actually first sought a loan of nearly Rs 400 crore.

However, later the amount was scaled down to Rs 210 crore. The amount will now be routed through the Central and the state governments before finally reaching the PCMC. Sharma said that after the amount is received, the PCMC will float the tender and then the work on the flyovers will begin.

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