Centre, World Bank sign $500m loan accord to finance PMGSY rural roads project
The World Bank, which has supported PMGSY since its inception in 2004, has so far invested over $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 statement said.
To provide additional financing for the Pradhan Mantri Gram Sadak Yojana (PMGSY) Rural Roads Project, the central government and the World Bank today signed a $500 million loan agreement. Image source: PTI