Central government signs loan agreement with JICA for North-East Road Connectivity Project

The central government has signed an ODA loan agreement worth approximately Rs 25 billion (JPY 38.67 billion) with JICA for Phase II of the North-East Road Connectivity Project. The loan is being provided at concessional rates of 1.2 per cent for project activities and 0.01 per cent for consulting services. The repayment period is 30 years with a grace period of 10 years. The North-East Road Connectivity Project involves the construction of four new bypasses on NH-54 in Mizoram and the improvement of NH-40 in Meghalaya. The project is being implemented by National Highways and Infrastructure Development Corporation Limited and is expected to be completed by September 2022. Phase II is an extension of Phase I for which JICA signed a loan agreement in March 2017.