World Bank has approved a $120m loan for the Meghalaya Integrated Transport Project (MITP) in Meghalaya, a hill state in the north east of India.
The loan from the International Bank for Reconstruction and Development (IBRD) has a maturity of 14 years and includes a grace period of six years.
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MITP is expected to improve around 300km of strategic road segments and bridges through the use of climate resilient, and nature-based solutions.
The road segments will cater to agriculture areas, key tourist destinations, small-scale industries, major towns and underserved populations by connecting them to markets, health and education centres, as well as national and international corridors.
This project is also expected to support new solutions such as precast bridges to cut down time and construction cost.
Around 50% of the 5,362 habitations in the state do not have proper transport connectivity.
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Transport challenges are specifically complex in the state due to difficult hilly terrain, and extreme climatic conditions, including high and frequent rains.
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By GlobalDataWorld Bank country director in India Junaid Ahmad said: “This project will tap into Meghalaya’s growth potential in two ways. Within the state, it will provide the much-needed transport connectivity for underserved communities, farmers, and firms. It will also position Meghalaya as a major connecting hub for international trade through the Bangladesh, Bhutan, India, Nepal Corridor.”
This loan will also support the state’s government ‘Restart Meghalaya Mission’ to boost development activities impacted due to Covid-19 pandemic.
It will help restore transport services to move agricultural produce, boost access to health facilities, and produce direct employment of about eight million person days.
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The World Bank has provided a loan of $120m to improve and modernise transport sector in the Indian state of Meghalaya. (Credit: Larisa Koshkina from Pixabay.)
