World Bank sanctions Rs 650 crore loan for Mizoram road project
19/06/2014 18:15
The World Bank today said it has approved funding of USD 107 million (nearly Rs 650 crore) for a road project in Mizoram, connecting Myanmar and Bangladesh, reported PTI.
Addressing a press conference, World Bank Country Director in India Onno Ruhl said: "Our board has recently approved the road project in Mizoram, which will connect the state with Myanmar and Bangladesh."
The World Bank board in last week has approved a soft loan amount of USD 107 million for the 'Mizoram State Roads II - Regional Transport Connectivity Project', he added.
According to media, the Project will be financed by a credit from the International Development Association - the World Bank's concessionary lending arm that provides interest-free loans with 25 years to maturity and a grace period of five years.
The project will fund 91 km of roads that are design-ready, as per the media reports.
19/06/2014 18:15
The World Bank today said it has approved funding of USD 107 million (nearly Rs 650 crore) for a road project in Mizoram, connecting Myanmar and Bangladesh, reported PTI.
Addressing a press conference, World Bank Country Director in India Onno Ruhl said: "Our board has recently approved the road project in Mizoram, which will connect the state with Myanmar and Bangladesh."
The World Bank board in last week has approved a soft loan amount of USD 107 million for the 'Mizoram State Roads II - Regional Transport Connectivity Project', he added.
According to media, the Project will be financed by a credit from the International Development Association - the World Bank's concessionary lending arm that provides interest-free loans with 25 years to maturity and a grace period of five years.
The project will fund 91 km of roads that are design-ready, as per the media reports.
