The Narendra Modi government and the World Bank on Thursday signed a signed a $500 million (Rs 3,375 crore) loan agreement to provide additional funding to flagship Pradhan Mantri Gram Sadak Yojana, which aims to provide good all-weather road connectivity to unconnected villages.
The government aims to build 7,000 kms of climate resilient roads, of which 3,500 km will be constructed using green technologies, the Finance Ministry said in a statement.
The World Bank has funded the rural road scheme since 2004 and so far has invested over $1.8 billion in loans and credits. “The additional finance will bring a new shift in construction technology using green and low carbon designs and climate resilient construction techniques.
Now more rural communities will have access to better economic opportunities and social services,” Sameer Kumar Khare, Joint Secretary, Department of Economic Affairs said. Read More
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