Saturday, July 2nd, 2022

World Bank To Finance Road Network

World Bank has signed an $82 m financing deal with the state government of Himachal Pradesh in India to fund the $303.4 m Himachal Pradesh State Roads Transformation Project to improve traffic flows on priority segments of the state’s core road network.

 The project aims to provide safe and resilient roads while strengthening the transport and road safety institutions in the state.

 In addition to financing initiatives to build climate and disaster-resilient roads, the Himachal Pradesh State Roads Transformation Project will improve road safety along tourism corridors in Himachal and improve logistics along the fruit belts.

Ministry of Finance Department of Economic Affairs additional secretary Sameer Kumar Khare said: “This project will help the state develop reliable, resilient and safe roads which is crucial for the economic development of the state.”

Planned to be completed in five years, the Haryana Orbital Rail Corridor Project is expected to benefit the districts of Palwal, Nuh, Gurugram, Jhajjar and Sonipat in Haryana.

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