India inks credit pact with World Bank for Rajasthan road modernisation project

New Delhi, Jan.2 : An agreement for credit of USD 160 million (equivalent) from World Bank for a road sector modernisation project in Rajasthan was signed here today.

Nilaya Mitash, Joint Secretary, Department of Economic Affairs, and Mr. Manoj Jain, Acting Director of the World Bank's New delhi office, signed the pact.

Similarly the project agreement was signed by J.C.Mohanty, Principal Secretary, Public Works Department, Rajasthan.

The objective of the project is to improve rural connectivity, enhance road safety and strengthen road sector management capacity of the state of Rajasthan.

Project Components: The new project has three main components: (i) Rural Connectivity Improvement; (ii) Road Sector Modernisation and Performance Enhancement; (iii) Road Safety Management.

The closing date of RRSMP is December 2018.

--ANI (Posted on 02-01-2014)

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