Additional US $18 mn for Mizoram road project

Guwahati, May 24(UNI) The World Bank has approved additional finance of 18 million US dollars for the ongoing Mizoram State Road Project.

According to a statement issued by the Bank, the additional fund is meant for improving the management and carrying capacity of the core road network in Mizoram.

'Mizoram State Roads Project' was approved by the World Bank in March, 2004. The additional finance will be instrumental in bridging a financing gap caused by higher cost of works and construction materials, beyond the control of the State Government.

In the hill state of Mizoram, condition of single-lane road network leads to very high cost of passenger and freight transport.

The project aims to expand or rehabilitate over 500 kms of Mizoram's core road network, which is half of the state's total core road network.

So far, around 210 km maintenance roads have been completed and opened to traffic, reducing travel time by about 50 per cent. In addition, 42 per cent of the core road network has been improved to good condition and maintenance backlog has decreased to 800 km from 1,000 km.

The credit is provided by the International Development Association (IDA), the World Bank's concessionary lending arm and has 35 years to maturity and a 10-year grace period.

UNI