Karnataka govt inks $350 mn pact with World Bank

Bangalore, May 30: Karnataka Government today (May 30) signed an agreement with Centre and World Bank for securing USD 350 million loan assistance for implementing roads development under K-SHIP-II project.

Chief Minister B S Yeddyurappa, in whose presence the agreement was signed, said the state would develop 3,411 kms of state highway with the World Bank assistance.

Under K-SHIP-I, the state has upgraded 2,385 kms of roads in the state, he said.

The agreement was signed by Union Department of Economic Affairs Joint Secretary Venu Rajamony and Subhashchandra Kunita, state's principle secretary for Public Works Department.

Hubert Nove-Josserand, the Operation Advisor to World Bank in India, was also present.

PTI