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24
April 2018
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MP Road (The Total Investment & Insurance Solutions)
India has signed a USD 210 million loan agreement with the World Bank to improve
rural connectivity in Madhya Pradesh, the finance ministry said today.
The project will cover 10,510 km stretch of
rural roads in Madhya Pradesh that fall under the Chief Minister's Gram Sadak Yojana(CMGSY)
programme.
Of this 10,000 km will be upgraded from
existing gravel to bituminous surface roads, while 510 km of new roads will be
built to the same bituminous surface standard. The Total Investment & Insurance Solutions
"The Government of India, the Government of Madhya Pradesh and
the World Bank today signed a USD 210 million loan agreement for the Madhya
Pradesh Rural Connectivity Project," the finance ministry said in a
statement.
The project is expected to improve the
durability, resilience and safety of the gravel surfaced rural roads and
enhance the capacity of the state to manage its rural roads network, it added. The Total Investment & Insurance
Solutions
Joint Secretary in the Ministry Sameer Kumar Khare said
the Madhya Pradesh roads project will enhance rural road connectivity in the
state and open up opportunities for economic development.
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"This project will leverage resources to
support innovations in road construction, improve road safety, and reduce
carbon footprint in the transport sector by mainstreaming climate resilient
technology in road design and construction," said Hisham Abdo, Acting
Country Director, World Bank India.
The project will undertake resilience measures such as
surface sealing of roads, embankment pitching, and balancing culverts to
prevent damages caused by extreme flood events. The
Total Investment & Insurance Solutions
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