Govt eyes $3 bn loan from World Bank for roads

Written by: Super Admin
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New Delhi, Sep 11: The Tranport Ministry will seek over $3 billion (15,000 crore) loan from the World Bank to the development of about 6,372 km of national highways.

Transport and Highway Minister Kamal Nath said, "The government is approaching the World Bank to finance this expansion, roads."

The minister said he would be meeting World Bank chief Robert Zoellick soon and would take up the financing issue.

Revealing that the ministry has already approved the fund to be pumped in as equity (20pc of the project) for this purpose, Nath said the work would be carried out on cash contract basis.

"We are pushing the project and are hopeful of taking it up in next few months, he added.

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