India : India Signs Loan Agreement with World Bank for IBRD Assistance of US$ 500 Million for National Highways Inter-Connectivity Improvement Project (NHIIP)
The Government of India and the World Bank signed here today a Loan Agreement for World Bank (IBRD) assistance of US $ 500 million for National Highways Inter-connectivity Improvement Project (NHIIP). This Agreement was signed by Shri Nilaya Mitash, Joint Secretary, Department of Economic Affairs on behalf of the Government of India and Mr. Michael Haney, World Bank Operations Advisers in India on behalf of the World Bank.
The objective of the project is to improve the National Highway network connectivity to less developed States and enhance institutional capacity of Ministry of Road Transport and Highways to better manage the highway network. The Project comprises of upgradation of about 1120 kilometer of existing single/intermediate lane National Highways in three low income States (Bihar, Orissa and Rajasthan) and in less developed regions of two middle income States (Karnataka and West Bengal). The total project size is US$ 1146.05 million.
Ministry of Road Transport and Highways, Government of India is the implementing agency for the Project.