World Bank approves $225 mn loan for Rajasthan highways

New Delhi: The World Bank on Monday said it has approved a $ 225 million loan for the highway modernisation project in Rajasthan, which will benefit more than 3 million people, improve connectivity and create jobs.

The World Bank's Board of Executive Directors has approved financing for a new project to improve highway efficiency, resilience, and safety across the Indian state of Rajasthan.

The project will benefit more than 3 million people and improve connectivity to stimulate job creation in economic corridors across the agriculture, industrial, mining, and tourism sectors.

Rajasthan is one of India's largest states and serves as a critical gateway connecting 40 per cent of India's markets. Although the state has had an annual growth rate of 11 per cent between 2015-16 and 2023-24, the state's road infrastructure has not kept pace, the World Bank said in a statement.

"The Rajasthan Highway Modernisation Project ($ 225 million) will support the transformation of Rajasthan State Highway Authority into a modern, service-oriented highway agency, while upgrading and maintaining about 800 km of selected highway corridors, making them safer, climate-resilient and more reliable for commuters. The project will place strong emphasis on improving road safety management to reduce fatalities and improve safety across Rajasthan," it said.