Bank team, state bodies try to identify financial resources for Rs 2.60 lakh-cr business plan In a boost to its much-touted plans to transform Mumbai into an international city and improve the quality of infrastructure in the Mumbai Metropolitan Region (MMR), the State Government is tapping financial sources to help it implement its ambitious Rs 2.60 lakh-crore business plan. The World Bank (WB), which is funding some of these makeover projects that are underway, will submit a financial plan to the State Government by June-end to help it identify the financial sources. The plan, which deals with transportation projects like the Mumbai Metro and the monorail along with power projects, water resources, health services and ports, is to be implemented in phases by 2031. The WB report will come by June-end, said senior officials dealing with the issue. A core WB team met officials from various state and city agencies in Mumbai last week for identifying financial sources for implementing the business plan. The officials were drawn from various civic bodies in the MMR, the Mumbai Metropolitan Region Development Authority (MMRDA) and the Maharashtra State Road Development Corporation Limited (MSRDC). Similar meetings have taken place a couple of months ago. "There is a huge investment required here,' said an official, pointing to the Rs 2.60 lakh-crore plan, of which a component of around Rs 1.60 lakh crore deals with projects from the transport sector. He said that the report would take up avenues for raising funds, project sequencing and whether private partnership was possible. After the report is submitted, it will be discussed with the various agencies concerned. A final report will then be prepared. The plan is to be implemented in three phases