World Bank may fund city's urban mobility projects

On Wednesday, officials from Greater Chennai Corporation, Finance department, Housing department, Chennai Metropolitan Development Authority (CMDA), Metrorail, Transport department, Tamil Nadu Urban Infrastructure Financial Services Limited (TNUIFSL) and ITDP met the team from the World Bank. According to a source who had attended the meeting, the team reviewed proposed projects such as Mega Street Project and Street Network Project.

“The World Bank is keen on providing financial and technical assistance for the project. They want to concentrate on urban mobility. They are ready to approve any of our ongoing or upcoming projects,” the source said.

Meanwhile, the Chennai Corporation has already invited consultants to prepare detailed project reports for the Street Network project, which would be implemented in Anna Nagar, Tondiarpet, George Town, Thiruvottiur, Nungambakkam, Mylapore, Velachery and Adyar.

While civic officials are expecting funds for the Street Network project, sources said that the World Bank is interested to assist in urban mobility projects which would be carried out in collaboration with two or more government departments. “The final decision, however, will be taken by the team,” the source added.