World Bank has signed an $82m financing deal with the state government of Himachal Pradesh in India to fund the $303.4m Himachal Pradesh State Roads Transformation Project to improve traffic flows on priority segments of the state’s core road network.

The project aims to provide safe and resilient roads while strengthening the transport and road safety institutions in the state.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

In addition to financing initiatives to build climate and disaster-resilient roads, the Himachal Pradesh State Roads Transformation Project will improve road safety along tourism corridors in Himachal and improve logistics along the fruit belts.

Ministry of Finance Department of Economic Affairs additional secretary Sameer Kumar Khare said: “This project will help the state develop reliable, resilient and safe roads which is crucial for the economic development of the state.”

The project will also enhance the ability of Himachal Pradesh to systematically identify, analyse, develop and prioritise critical road safety measures to help benefit all road users.

See Also:

The bank said that ‘Safe Systems’ approach is planned to be implemented by the project in selected districts and heavily trafficked corridors.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

World Bank India country director Junaid Ahmad said: “Himachal Pradesh has the potential to produce high-value horticultural products. However, to leapfrog to the next level of competitiveness in the global value chain, the state needs to focus on improving its roads and logistics services.

“This project will support the Government of Himachal Pradesh to provide greater opportunity to smallholder farmers access domestic and international agricultural markets, attract private investments to enhance value chains and increase jobs and farmers’ incomes.”

The project will also see the installation of an emergency response system to help connect accident sites.

——————————————————————————————————————————————————
The NH-22 road in Shimla district, Himachal Pradesh. (Credit: Biswarup Ganguly/Wikipedia)