World Bank to give Rs. 650 crore loan for Mizoram road project.

The World Bank said it has approved funding of USD 107 million (nearly Rs. 650 crore) for a road project in Mizoram, connecting Myanmar and Bangladesh.

Addressing a press conference, World Bank Country Director in India Onno Ruhl said: 'Our board has recently approved the road project in Mizoram, which will connect the state with Myanmar and Bangladesh.'

The World Bank board recently has approved a soft loan amount of USD 107 million for the 'Mizoram State Roads II - Regional Transport Connectivity Project', he added.

The Project will be financed by a credit from the International Development Association - the World Bank's concessionary lending arm that provides interest-free loans with 25 years to maturity and a grace period of five years.

The project will fund 91 km of roads that are design-ready.



ET