India, May 4 -- The proposal of the Gurugram Metropolitan Rail Limited (GMRL) seeking a loan of around Rs.2,800 crore from the World Bank for the second phase of the Gurugram Metro is in its final stages and is likely to be approved by the end of July, a senior GMRL official aware of the matter said.

The loan, which constitutes 60% of the project cost, is currently estimated at around Rs.2,800 crore and is under advanced consideration following discussions with World Bank officials. A team from the World Bank visited Panchkula last week after earlier holding meetings in Gurugram to review various aspects of the proposal, officials said.

"A team of senior officials from the World Bank had visited Panchkula last week, and prior to that, t...