$1.5bn WB loan for roads
The World Bank has said it had agreed a $1.5bn loan to help India improve its rural roads, the latest effort to beef up the country’s infrastructure.
“Improving the access and quality of rural roads is critical to increasing growth and promoting development in lagging regions,” said the bank’s India director Roberto Zagha.
Although the Indian economy has grown apace in recent years, its infrastructure remains notoriously creaky.
The country has struggled to keep pace with massive population growth, while rugged terrain makes construction difficult in some areas.
Almost 40% of Indians, or 300mn people, lack access to all-weather roads, according to the World Bank.
The project is expected to focus on the heavily populated states of Uttar Pradesh and Rajasthan as well as the mountainous states of Uttarakhand, Himachal Pradesh and Meghalaya.
Jharkhand and Punjab will also be covered.
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