World Bank Signs $120 Million Project to Improve Connectivity in Meghalaya

The Government of India, the Government of Meghalaya and the World Bank has signed a $120-million undertaking to enhance and modernize the transport sector of Meghalaya. This will assist Meghalaya to harness its huge development potential for high-value agriculture and tourism. The $120 million loans from the International Bank for Reconstruction and Development (IBRD), has a maturity of 14 years together with a grace interval of six years. The International Bank of Reconstruction and Development (IBRD) is a improvement financial institution administered by the World Bank.

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Under the undertaking:

  • The Meghalaya Integrated Transport Project (MITP) will enhance about 300 km of strategic highway segments and stand-alone bridges through the use of modern, climate-resilient, and nature-based options.
  • The segments will serve main agriculture areas, vital vacationer locations, small-scale industries, main cities and underserved populations by linking them to markets, well being and training centres, and nationwide and worldwide corridors.
  • It can even help modern options comparable to precast bridges to cut back each time and price of development.
  • This operation can even help the state’s authorities “Restart Meghalaya Mission” to revive and enhance improvement actions affected as a consequence of COVID-19 pandemic.
  • It will assist restore transport companies for the motion of agricultural produce, enhance entry to well being amenities throughout COVID-19 kind medical emergencies, profit about 500,000 inhabitants, and generate direct employment of about 8 million person-days.

Important takeaways for all aggressive exams:

  • Meghalaya Chief Minister: Conrad Sangma.
  • Meghalaya Governor: Satya Pal Malik.
  • Meghalaya Capital: Shillong.

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