World Bank provides a loan of 82 million US dollars to Himachal Pradesh with an aim to provide better connectivity to apple growers
The Government of India, the Government of Himachal Pradesh and the World
Bank today signed 82 million US dollars loan for the implementation of Himachal
Pradesh State Roads Transformation Project which will strengthen transport and
road safety institutions of Himachal Pradesh by improving the condition,
safety, resilience, and engineering standards of state road network.
The Himachal Pradesh State Roads Transformation Project will finance
initiatives to build climate and disaster resilient roads; improve road safety
along tourism corridors in Himachal, enhance logistics along fruit belts, and
support the government’s initiative to create a corporate entity responsible
for ensuring well-performing roads. A third of the maintenance contracts under
the project will be awarded to women-led Self-Help Groups (SHGs).
Economic growth of
any region is closely linked to its road infrastructure
Mr Sameer Kumar Khare, Additional Secretary, Department of Economic
Affairs, Ministry of Finance, Government of India said that the economic growth
of any region is closely linked to its road infrastructure. The mountainous
state of Himachal Pradesh with its rich horticulture and tourism potential
requires well-constructed, well connected, climate resilient and safe roads.
This project will help the state develop reliable, resilient and safe roads which
is crucial for the economic development of the state.
The loan agreement was signed by Mr Khare, on behalf of the Government of
India and Mr Junaid Kamal Ahmad, Country Director (India) on behalf of the
World Bank. Whereas, the project agreement was signed by Mr Jagdish Chander
Sharma, Principal Secretary, Public Works Department on behalf of the
Government of Himachal Pradesh and Mr Ahmad.
Mr Ahmad said that this project will support the Government of Himachal
Pradesh to provide greater opportunity to smallholder farmers access domestic
and international agricultural markets, attract private investments to enhance
value chains and increase jobs and farmers’ incomes.
The loan has a final
maturity of 15 years including a grace period of 5 years
The $82 million loan from the International Bank for
Reconstruction and Development (IBRD) has a final maturity of 15 years
including a grace period of 5 years.