Thiruvananthapuram: Governor R.L. Bhatia indicated, in his address to the Assembly, on Friday the Government's resolve to provide more economic freedom to the Local Self-Government Institutions.
He said it was time to enable local bodies access the market for funds. The Kerala Urban and Rural Finance Corporation would be restructured into a professional body to channelise funds for viable projects proposed by the local bodies. The Government also proposed to set up a Micro-Finance Institution to provide credit to the poor at reasonable rates.
He said the Thiruvananthapuram and Kochi corporations had prepared project reports for nearly Rs.2,200 crore. The Kerala Sustainable Urban Development Project was also off the block.