World Bank clears $250-mn for Indian highway sector

The World Bank has approved the financing of $250 million to support the Government of India’s Program for Strengthening Road Safety. The World Bank project will help participating states reduce road crash fatalities and injuries through improved road safety management and institutional reform, and results-based interventions on high-risk roads. It will also strengthen emergency medical and rehabilitation services for post-crash care.

The India State Support Program for Road Safety, financed by the World Bank, will be implemented in the states of Andhra Pradesh (AP), Gujarat, Odisha, Tamil Nadu, Telangana, Uttar Pradesh (UP), and West Bengal.

The $250 million variable spread loan from the International Bank for Reconstruction and Development (IBRD) has a maturity of 18 years including a grace period of 5.5 years.