World Bank to fund US$4.83 billion for developing infrastructure

The World Bank has lined up US$4.83 billion loan to India for the next five years as a part of the assistance program to help boost economic development across the country.

Majority portion of the fund will be allocated to India's road and rail infrastructure.

The Pradhan Mantri Gram Sadak Yojna (PMGSY) will get close to US$1.5 billion, US$430 million for Mumbai urban transport project phase-II project and US$1.8 billion for state highway projects in Assam, Himachal Pradesh, Andhra Pradesh, Punjab, Orissa and Karnataka. For extending loans for road infrastructure in the case of hill states the bank is pushing for 'Green Highways'.