Govt, World Bank ink $500 million pact to develop highway corridors
The project will also enhance the capacity of the Ministry of Road Transport and Highways (MoRTH) in mainstreaming safety and green technologies, the finance ministry said in a statement.
During the year-long drive, police and L&T SGTL blocked 70 illegal access points and gaps in the divider by erecting or restoring metal-beam crash barriers and constructing dividers on the highway, which connects Kandla and Mundra ports to the rest of the country. (Representational)
The government and the World Bank Tuesday signed a $500 million project to build national highway corridors in the states of Rajasthan, Himachal Pradesh, Uttar Pradesh and Andhra Pradesh. The $500 million loan from the International Bank for Reconstruction and Development (IBRD), an arm of the World Bank, has a maturity of 18.5 years including a five-year grace period.
The project will also enhance the capacity of the Ministry of Road Transport and Highways (MoRTH) in mainstreaming safety and green technologies, the finance ministry said in a statement. The Green National Highways Corridors Project will support MoRTH construct 783 km of highways in various geographies by integrating safe and green technology designs such as local and marginal materials, industrial byproducts, and other bioengineering solutions, it said.
“Connectivity for economic growth and connectivity for sustainable development are two important aspects of a country’s development trajectory. This operation brings these two priorities together in support of India’s growth strategy,” said Junaid Ahmad, World Bank country director in India.
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