Updated By: LatestGKGS Desk
India & World Bank Signed $500 Million Additional Loan For PMGSY Rural Road Projects
India and World Bank Signed $500 Million Additional Loan For Pradhan Mantri Gram Sadak Yojana Rural Roads Project
The Government of India and the World Bank today signed a $500 million loan agreement on 31st May 2018 in New Delhi.
The loan agreement aims to provide additional financing for the Pradhan Mantri Gram Sadak Yojana (PMGSY) Rural Roads Project. It focusses to build 7,000 km of climate resilient roads, out of which 3,500 km will be constructed using green technologies.
The PMGSY and the World Bank’s loan agreement of additional financing will enhance the management of the rural road network through green and climate-resilient construction using green, low-carbon designs and new technologies.
The Additional Financing will also fill the gender gap by creating employment opportunities for women in construction and maintenance.
Additional Financing Will Be Utilised For:
Climate vulnerability assessment during the design process to identify the critical locations affected by floods, water-logging, submergence, cloud bursts, storms, landslides, poor drainage, excessive erosion, high rainfall, and high temperatures.
Special treatment for flood-affected areas; Use of environmentally optimized road designs and new technologies: Innovative bridges and culverts: Use of hill cutting material in hill roads ensuring its productive use and resolving its disposal problem, use of bio-engineering measures, improved drainage and other treatments for landslide-prone areas and providing adequate slope protection.
