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.
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