World Bank (WB) approves USD 225 million loan for Rajasthan highway modernisation

Key facts

• The World Bank (WB) has approved a USD 225 million loan for the highway modernisation project in Rajasthan.
• The project aims to benefit more than 3 million people and stimulate job creation across the agriculture, industrial, mining, and tourism sectors.
• The funding will support the transformation of the Rajasthan State Highway Authority into a modern, service-oriented highway agency.
• Approximately 800 km of selected highway corridors will be upgraded and maintained to be safer and climate-resilient.
• The loan is provided by the International Bank for Reconstruction and Development (IBRD) with a final maturity of 35 years.
• The IBRD loan includes a grace period of 5 years and a step-up loan feature.
• Rajasthan connects 40 per cent of India's markets and recorded an annual growth rate of 11 per cent between 2015-16 and 2023-24.