How much loan amount has been approved by the World Bank for rural road projects in Bihar?
The World Bank (WB) has recently approved a $235 million credit for the Bihar Rural Roads Project to improve and effectively manage rural road network of the state. The project will support the construction of about 2,500 km of rural roads under the Mukhiya Mantri Gram Sampark Yojana (MMGSY). The roads will be constructed using cost-effective designs and will incorporate engineering measures that ensure road safety. The project will also suggest better contract management practices to avoid time and cost over-runs. The credit is from the International Development Association (IDA) – the World Bank’s concessionary lending arm – with a maturity of 25 years, including a 5-year grace period.