World Bank Sanctions $107 Million For Road Project In India

India Signs Loan Agreements with World Bank for IDA Assistance of US $ 107 Million for Second Mizoram State Roads Project

A Credit Agreement for World Bank (IDA) assistance of US$ 107 million for Second Mizoram State Roads Project (MSRP II) has been signed between the Government of India and the World Bank here today. This Agreement was signed by Shri Nilaya Mitash, Joint Secretary (MI), Department of Economic Affairs on behalf of the Government of India and Mr. Onno Ruhl, Country Director, World Bank, India, on behalf of the World Bank.

The project is fully funded through the International Development Agency (IDA) assistance of US $ 107 million. This project is the first project facilitating regional connectivity in transport sector undertaken in India with Bank support.

The objective of the project is to enhance transport connectivity along regional trade corridors in Mizoram.The project will focus on improvement of priority cross-border roads connecting Bangladesh and Myanmar, as also on trade related infrastructure. Thus, the Mizoram State Roads Project will be an important milestone in enhancing the connectivity for the state of Mizoram and the rest of NE India with Bangladesh and Myanmar.

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