New Delhi, Jul 30 (PTI) The government has so far approved or accorded in-principle approval to 33 projects under the Urban Challenge Fund (UCF), Union minister Manohar Lal informed the Lok Sabha on Thursday.
In a written reply to a question, the Housing and Urban Affairs minister said the Urban Challenge Fund was operationalised with the launch of its guidelines on April 15.
The UCF envisages a total central assistance of Rs 1 lakh crore over the mission period to support transformative urban infrastructure projects across the country.
“So far, 33 projects have been approved/ accorded in-principle approval,” he said.
According to the minister, the MoHUA has approved or accorded in-principle approval to four projects in Andhra Pradesh, six in Gujarat, three in Karnataka, six in Madhya Pradesh, three in Maharashtra, seven in Odisha, three in Telangana and one in Meghalaya.
He said that the Centre’s assistance under the scheme is capped at 25 per cent of the cost of bankable projects.
At least 50 per cent of the project cost has to be mobilised through market-based sources such as municipal bonds, bank loans and public-private partnerships (PPPs), while the remaining cost is to be borne by the concerned state government, Union Territory or urban local body.
The minister said all cities are eligible to participate under the Urban Challenge Fund, subject to the eligibility conditions and appraisal framework laid down in the operational guidelines.
UCF supports the development and strengthening of urban infrastructure through implementation of transformative and impactful projects under three verticals, namely ‘Cities as Growth Hubs’, ‘Creative Redevelopment of Cities’ and ‘Water and Sanitation’. PTI BUN APL APL
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