<h1>World Bank and India's Ministry of Finance sign $60M agreement to boost urban management and reduce poverty in ULBs.</h1> A US$60 million credit agreement was signed between the World Bank and India's Ministry of Finance to enhance the capacity of Urban Local Bodies (ULBs) for improved urban management and poverty reduction. The initiative aims to strengthen financial management, urban planning, and service delivery among ULBs, and to develop strategies for urban poverty alleviation. This project aligns with India's broader urban development goals under programs like the Jawaharlal Nehru National Urban Renewal Mission. The project will also establish a Challenge Fund to recognize innovative practices and create a network for knowledge exchange among ULBs and stakeholders.