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India : INDIA enters into loan agreement with WORLD BANK

July 3, 2014

Indian Government has entered into a USD 500 million loan agreement with World Bank for National Highways Inter-connectivity Improvement Project (NHIIP).

The ambition of the project is to advance the National Highway network connectivity to less established states and improve institutional capacity of Ministry of Road Transport and Highways to better manage the highway network.

Joint Secretary in the Ministry of Finance Nilaya Mitash on behalf of the Government of India and World Bank Operations' Advisers in India Michael Haney on behalf of the World Bank, have signed the agreement.

The project includes improvement of about 1120 kilometres of current single or intermediate lane National Highways in 3 low income States (Bihar, Orissa and Rajasthan) as well as in less established regions of two middle income States (Karnataka and West Bengal).

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Source: TendersInfo (India)

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