The Loan and Project
Agreements for World Bank (IBRD) assistance of US$ 320 million for Assam
State Roads Project were signed between Government of India and the
Government of Assam respectively and the World Bank in New Delhi today.
The Loan Agreement was signed by Shri Prabodh Saxena (Joint Secretary,
Department of Economic Affairs) on behalf of Government of India and Mr.
Onno Ruhl, Country Director, World Bank (India) on behalf of the World
Bank. The Project Agreement was signed by Shri Mohan Chandra Boro,
Commissioner & Special Secretary, Public Works Road Department on behalf
of the Government of Assam.
The Objective of the project is to enhance the road connectivity in
Assam by assisting the Public Works Road Department to improve and
effectively manage its road network.
Project Component: The project will have three components:
1. Road Improvement: This component will support improvement of priority
sections of secondary roads in Assam to improve state connectivity and
facilitate regional integration.
2. Road Sector Modernization and Performance: This component will
support the implementation of Assam’s Road Sector Modernization Program
3. Road Safety Management: This component will strengthen safety
management capacity of related agencies in Assam through developing and
implementing a multi-sector road safety strategy.
The IBRD loan has a variable spread over LIBOR and is a US $ denominated
loan. The project will be implemented over a period of six years.