India: Additional Financing for Mizoram State Roads Project

WASHINGTON, May 22, 2007 - The following project was approved today by the World Bank’s Board of Executive Directors:

 

IDA CREDIT: US$18 million

TERMS: Grace Period = 10 years; Maturity = 35 years.

PROJECT DESCRIPTION: The additional financing of the project will bridge a financing gap caused by higher cost of works and construction materials, beyond the control of the State Government. The project aims to expand or rehabilitate over 500 kilometers of the state's core road network—around half of the state's total core network. So far, around 210 km maintenance roads have been completed and opened to traffic, reducing travel time of about 50 percent.  In addition, 42 percent of the core road network has been improved to good condition and maintenance backlog has decreased to 800 km from 1,000 km.

For more information, please call Erik Nora at (202) 458 4735 or email enora@worldbank.org

For project documents, please visit: http://web.worldbank.org/external/projects/main?Projectid=P069889&theSitePK=40941&pagePK=64283627&menuPK=228424&piPK=73230