Coming Up Rajiv Gandhi Awaas Yojana
09/16/2009

The urban development ministry is also in talks with the World Bank for a $5-billion loan under the Jawaharlal Nehru National Urban Renewal Mission (JNNURM) for improving urban infrastructure, the minister said.

Online PR News – 16-September-2009 – – Housing set to welcome PEs
Guidelines In The Works To Invite Funds
The urban development ministry is also in talks with the World Bank for a $5-billion loan under the Jawaharlal Nehru National Urban Renewal Mission (JNNURM) for improving urban infrastructure, the minister said.
The World Bank loan requested under the JNNURM is expected to be finalized “shortly” after authorities have vetted the attached conditionality, he said.

“The ministry, in consultation with the Planning Commission, is currently processing guidelines to ensure PEs’ participation in the Yojana,” he said at a national conclave on private equity in infrastructure organized by Assocham.
The government wants to harness private funds to provide affordable housing to millions of households under the scheme, he added.
“PE funds are keen to park their investments in the Yojana....Besides, the government cannot generate resources for this on its own,” he said.
As per IDFC Projects Equity managing director Sachin Johri, a large number of PE funds are willing to take stake in such projects to the extent of 40-50%.
Enumerating benefit of participation of private equity companies in the scheme, Mr Roy said these funds will also provide expertise in valuing infrastructure projects, advise in fine-tuning business models, assist in toning up operational efficiencies and strengthen corporate governance.
The government is preparing guidelines for the participation of private equity (PE) funds in the housing sector under the Rajiv Gandhi Awaas Yojana, minister of state for urban development Saugata Roy said.
The scheme aims to make a slum free India in five years with construction of over 10 lakh houses.
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