Adding to the rural road network of the country, India signed a USD 500 million amounting to ₹3,371 crore loan pacts with World Bank to provide additional financing for PMGSY rural road projects. It will provide additional financing for the Pradhan Mantri Gram Sadak Yojana (PMGSY) Rural Roads Project, which will build 7,000 km of climate resilient roads, out of which 3,500 km being built using green technologies, said an official spokesperson, adding that the loan has a 3-year grace period, and a maturity of 10 years. The World Bank has supported PMGSY since its inception in 2004 and so far it has invested over USD 1.8 billion in loans and credits mostly in the economically weaker and hill states across North India -- Bihar, Himachal Pradesh, Jharkhand, Meghalaya, Rajasthan, Uttarakhand, and Uttar Pradesh.
