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India, World Bank Signs USD 500 Million Project to Develop Green, Resilient and Safe Highways in India: Highlights with Details

India, World Bank Signs USD 500 Million Project to Develop Green, Resilient and Safe Highways in India Highlights with Details
India, World Bank Signs USD 500 Million Project to Develop Green, Resilient and Safe Highways in India: Highlights with Details

India, World Bank Signs USD 500 Million Project to Develop Green, Resilient and Safe Highways in India: Highlights with Details

The Government of India and the World Bank signed a $500 million project to build safe and green national highway corridors in the states of Rajasthan, Himachal Pradesh, Uttar Pradesh and Andhra Pradesh. The project will also enhance the capacity of the Ministry of Road Transport and Highways (MoRTH) in mainstreaming safety and green technologies.

The MoU Signed by - India, World Bank Signs USD 500 Million Project

The agreement was signed by Dr Mohapatra on behalf of the Government of India and Ms Sumila Gulyani, Acting Country Director, India on behalf of the World Bank.

Highlights with Details - India, World Bank Signs USD 500 Million Project to Develop Green, Resilient and Safe Highways 

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. The project will help reduce GHG emissions in the construction and maintenance of highways.

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The selected stretches in the states of Uttar Pradesh, Andhra Pradesh, Rajasthan and Himachal Pradesh will also help improve connectivity and promote economic development.

The $500 million loan from the International Bank for Reconstruction and Development (IBRD), has a maturity of 18.5 years including a grace period of five years.

Read: Indian Army signs MoU with Bank of Baroda for new Baroda Military Salary Package: Quick Highlights

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