World Bank Signs $120 Million Project to Improve Connectivity in Meghalaya

The Government of India, the Government of Meghalaya and the World Bank has signed a $120-million project to improve and modernize the transport sector of Meghalaya. This will help Meghalaya to harness its vast growth potential for high-value agriculture and tourism. The $120 million loans from the International Bank for Reconstruction and Development (IBRD), has a maturity of 14 years including a grace period of six years. The International Bank of Reconstruction and Development (IBRD) is a development bank administered by the World Bank.

WARRIOR 4.0 | Banking Awareness Batch for SBI, RRB, RBI and IBPS Exams | Bilingual | Live Class

Under the project:

  • The Meghalaya Integrated Transport Project (MITP) will improve about 300 km of strategic road segments and stand-alone bridges by using innovative, climate-resilient, and nature-based solutions.
  • The segments will serve major agriculture areas, important tourist destinations, small-scale industries, major towns and underserved populations by linking them to markets, health and education centres, and national and international corridors.
  • It will also support innovative solutions such as precast bridges to reduce both time and cost of construction.
  • This operation will also support the state’s government “Restart Meghalaya Mission” to revive and boost development activities affected due to COVID-19 pandemic.
  • It will help restore transport services for the movement of agricultural produce, improve access to health facilities during COVID-19 type medical emergencies, benefit about 500,000 inhabitants, and generate direct employment of about 8 million person-days.

Important takeaways for all competitive exams:

  • Meghalaya Chief Minister: Conrad Sangma.
  • Meghalaya Governor: Satya Pal Malik.
  • Meghalaya Capital: Shillong.

Find More National News Here

Leave a comment

Your email address will not be published. Required fields are marked *