Mumbai: The Centre and state will provide Rs 11,200 crore each for the urban challenge fund to take up civic infra projects in cities across Maharashtra.Nearly Rs 22,400 crore required for the projects will be raised from the market. At a meeting to discuss the fund, CM Devendra Fadnavis said it would help overcome the hurdle due to institutional, financial and administrative constraints of the cities and expressed confidence that this innovative campaign for the creative development of cities will lead to significant improvement in urban infrastructure and service delivery.Through the Urban Challenge Fund it will be possible to raise funds through debt securities and private public partnerships.The approval of the National Apex Committee (NAC) has been received for the raising of funds for Nashik and Pune municipal corporations for water supply and sanitation projects. Fadnavis said funds will be available in this manner for some projects in Pimpri-Chinchwad Municipal Corporation and Nagpur Municipal Corporation.The mission will cover around 22 key components, including digital governance, development of core urban infrastructure , circular economy , traffic congestion reduction projects , last-mile connectivity , urban regeneration of 5 sq km to 20 sq km , small and medium cities as growth hubs, redevelopment of slums, pedestrian and cycle-friendly transport projects, demonstration projects, transit hub upgrading, transit-oriented development infrastructure development, urban development hubs, creative urban redevelopment and water supply and sanitation projects.
