The State government is in the final stages of preparing a proposal seeking a second phase loan of Rs 1,500 crore from the World Bank for development of State Highways, Public Works Minister H D Revanna said in Bangalore. He said the first tranche of Rs 2,000 crore had been secured from the World Bank to upgrade and improve 3,000 km of road under the Karnataka State Highway Project-I which would come to a close by the end of 2006. The State was planning to seek a second loan of Rs 1,500 crore to improve another 1,500 km stretch of road in different parts of the State, he added.