Categories: National

World Bank signs $500mn project to develop highways in India

The Government of India and the World Bank signed a $500 million project to build safe and green national highway corridors in the states of Rajasthan, Himachal Pradesh, Uttar Pradesh and Andhra Pradesh. The project will also enhance the capacity of the Ministry of Road Transport and Highways (MoRTH) in mainstreaming safety and green technologies. The $500 million loans from the International Bank for Reconstruction and Development a lending arm of World Bank Group, has a maturity of 18.5 years including a grace period of five years.

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

About Green National Highways Corridors Project:

  • The Green National Highways Corridors Project will support MoRTH construct 783 km of highways in various geographies by integrating safe and green technology designs such as local and marginal materials, industrial byproducts, and other bioengineering solutions.
  • The project will help reduce GHG emissions in the construction and maintenance of highways.
  • The ultimate objective of transport infrastructure is to provide seamless connectivity and reduce logistics costs.
  • The Government of India has launched many investment programs in road sector infrastructure to strengthen and improve logistics performance.
  • This project will also support analytics to map the freight volume and movement pattern on the National Highway network, identify constraints, and provide innovative logistics solutions.

Important takeaways for all competitive exams:

  • World Bank Headquarters: Washington DC, United States.
  • World Bank President: David Malpass.
  • World Bank Founded: 1944.
  • Union Minister of Road Transport and Highways:  Nitin Jairam Gadkari.

Find More National News Here

 

Sumit Arora

Recent Posts

Most Expensive Countries in the World 2024 By Cost of Living

As of 2024, the world’s most expensive countries to be oases of opulence, where the…

1 hour ago

GK Quiz on C.V. Raman, Questions and Answers

C.V. Raman was a renowned Indian physicist celebrated for discovering the "Raman Effect," which explained…

2 hours ago

BEML Recognized with ‘Self-Certification’ Honor

BEML Limited has been awarded the prestigious "Self-Certification" status for its defense equipment by the…

2 hours ago

Most Expensive Things in the World By 2024

Throughout history, humans have been captivated by luxury and grandeur, relentlessly seeking the most extravagant,…

3 hours ago

CDS Gen Chauhan Signs Key Defense Pact with Algeria

India and Algeria have formalized their commitment to strengthening bilateral defense ties with the signing…

3 hours ago

Which Indian State is Known as the Kohinoor of India?

India, a country with diverse states, has each one known for something special. But one…

4 hours ago