World Bank, GoI enter into a pact for $500 million green and safe highways project

The Government of India has signed a $500 million loan agreement with the World Bank to develop safe and green national highway corridors in the states of Rajasthan, Andhra Pradesh, Himachal Pradesh and Uttar Pradesh. The Green National Highways Corridors project will support the Ministry of Road Transport and Highways in constructing 783 km of highways by integrating technology designs such as local and marginal materials, industrial by-products, and other bioengineering solutions. The loan comes with a tenor of 18.5 years along with a five-year grace period. In order to ensure that the infrastructure investments are climate resilient, disaster risk assessment of about 5,000 km of the national highway network will also be undertaken.