Surat: Wrold Bank to give Rs 1,500 cr loan to SMC for Tapi riverfront project

The total cost of the project is Rs 3,900 crore, out of which 30 per cent will be given by the state and the central governments.

The World Bank has expressed willingness to give a loan of Rs 1,500 crore for the Tapi riverfront project of the Surat Municipal Corporation (SMC), officials said. The total cost of the project is Rs 3,900 crore, out of which 30 per cent will be given by the state and the central governments. In November 2019, a three-member team from the World Bank had visited Surat to talk to officials on development projects.

SMC city engineer Jatin Desai said, “The World Bank is willing to give a loan of Rs 1,500 crore for the river project. In the series of meetings carried out in the last couple of months, the officials looked into the minute details of the project. The World Bank will first complete its procedures with the central and the state governments and then give the loan to SMC.”