In order to establish an urban infrastructure financing mechanism and to attract investment for financing and management of the urban infrastructure projects in the state, the AP government, along with IL&FS, has set up AP Urban Infrastructure Asset Management Limited (APUIAML). The govern-¡ment has also set up AP Urban Development Fund (APUDF) which will finance urban local bodies´ infrastructure projects on commercial or PPP principles.
The government has appointed the chief secretary as chairman of APUDF´s governing body and principal secretary (municipal admin), principal finance secretary and managing director of APUIAML as members.
According to officials of the municipal administration department, the new entity will be an asset management company (AMC) which will manage an urban fund.
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