$120 Million Loan Signing Between Government of India and the World Bank for the implementation of Meghalaya Integrated Transport Project

The Government of India, the Government of Meghalaya and the World Bank on November 19 signed a $120 million project to improve and modernise the transport sector of state of Meghalaya. This will help Meghalaya to harness its vast growth potential for high-value agriculture and tourism. The project will improve about 300 km of strategic road segments and stand-alone bridges by using innovative, climate resilient, and nature-based solutions.

It will also support innovative solutions such as precast bridges to reduce both time and cost of construction. Difficult hilly terrain and extreme climatic conditions make Meghalaya’s transport challenges particularly complex. On account, today, about half of the 5,362 habitations in the state lack transport connectivity. This operation will also support state government’s “Restart Meghalaya Mission” to revive and boost development activities affected due to COVID-19 pandemic. It will help restore transport services and generate direct employment of about 8 million person days. The $120 million loan from the International Bank for Reconstruction and Development (IBRD) has a maturity of 14 years including a grace period of 6 years.