News Karnataka
Thursday, February 02 2023
Business

World Bank to fund $500 mn ‘green’ highways project in India

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New Delhi: India and the World Bank on Tuesday signed a $500 million project to build safe and green national highway corridors in the states of Rajasthan, Himachal Pradesh, Uttar Pradesh and Andhra Pradesh.

The project will also enhance the capacity of the Ministry of Road Transport and Highways in mainstreaming safety and green technologies.

The Green National Highways Corridors Project will support the ministry construct 783 km of highways in various geographies by integrating safe and green technology designs such as local and marginal materials, industrial by-products, and other bio-engineering solutions. The project will help reduce GHG (greenhouse gas) emissions in the construction and maintenance of highways.

“Connectivity for economic growth and connectivity for sustainable development are two important aspects of a country’s development trajectory. This operation brings these two priorities together in support of India’s growth strategy,” said Junaid Ahmad, World Bank Country Director in India.

“This project will provide efficient transportation for road users in the four states, connect people with markets and services, promote efficient use of construction materials and water to reduce the depletion of scarce natural resources, and help lower GHG emissions,” he added.

The National Highways of India carry about 40 per cent of road traffic. However, several sections of these highways have inadequate capacity, weak drainage structures and black spots prone to accidents. The project will strengthen and widen existing structures; construct new pavements, drainage facilities and bypasses; improve junctions; and introduce road safety features.

As it is imperative that the infrastructure investments are climate resilient, disaster risk assessment of about 5,000 km of the National Highway network will also be undertaken under the project along with support to the ministry for mainstreaming climate resilience aspects in project design and implementation.

The $500 million loan from the International Bank for Reconstruction and Development (IBRD) has a maturity of 18.5 years, including a grace period of five years.

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