Contact Your Financial Adviser Money Making MC
31 May 2018
 |
| World bank (The Total Investment & Insurance Solutions) |
India signed a USD 500 million (Rs 3,371 crore) loan pact with World
Bank today to provide additional financing for PMGSY rural road projects.
The loan has a 3-year grace period, and a maturity of 10 years, the
finance Ministry said in a release. The
Total Investment & Insurance Solutions
It will provide additional financing for the Pradhan Mantri Gram Sadak
Yojana (PMGSY) Rural Roads Project "which will build 7,000 km of climate
resilient roads, out of which 3,500 km will be constructed using green
technologies", the release said. The
Total Investment & Insurance Solutions
The World Bank has supported PMGSY since its inception in 2004. So far
it has invested over USD 1.8 billion in loans and credits mostly in the
economically weaker and hill states across North India -- Bihar, Himachal
Pradesh, Jharkhand, Meghalaya, Rajasthan, Uttarakhand, and Uttar Pradesh.
It has built and improved about 35,000 km of rural roads and benefited
about eight million people with access to all-weather roads.
The release further said that adequate maintenance of the existing 4.6
million km of road network is emerging as a major challenge.
Many parts of the existing road network are either vulnerable to or have
already suffered damage from climate induced events such as floods, high
rainfall, sudden cloud bursts and land-slides. The Total Investment & Insurance Solutions
To support the rural economy and communities and households that depend
on rural livelihoods, it will be critical to ensure that infrastructure is
built and maintained to withstand climatic changes, said Mr Junaid Ahmad, World
Bank Country Director in India. The
Total Investment & Insurance Solutions
The project, he said will demonstrate how climate resilient construction
can be integrated in the strategy and planning of rural roads.
The additional financing will also fill the gender gap by creating
employment opportunities for women in construction and maintenance.
The earlier project had piloted community-based maintenance contracts
through women self-help groups (SHGs) for routine maintenance of 200 km of
PMGSY roads in Uttarakhand, Meghalaya and Himachal Pradesh.
No comments:
Post a Comment