CameraIcon
CameraIcon
SearchIcon
MyQuestionIcon
MyQuestionIcon
1
You visited us 1 times! Enjoying our articles? Unlock Full Access!
Question

India has signed how much amount of loan agreement with the World Bank to provide additional financing for the Pradhan Mantri Gram Sadak Yojana (PMGSY) Rural Roads Project?

A
$1000 million
No worries! We‘ve got your back. Try BYJU‘S free classes today!
B
$500 million
Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses
C
$1500 million
No worries! We‘ve got your back. Try BYJU‘S free classes today!
D
$750 million
No worries! We‘ve got your back. Try BYJU‘S free classes today!
Open in App
Solution

The correct option is B $500 million
On May 31, the Government of India (GoI) and the World Bank (WB) have signed a $500 million loan agreement to provide additional financing for the Pradhan Mantri Gram Sadak Yojana (PMGSY) Rural Roads Project. The project will be implemented by Union Ministry of Rural Development. The Ministry will build 7,000 km of climate resilient roads, out of which 3,500 km will be constructed using green technologies.
The loan has a 3-year grace period and a maturity of 10 years. The World Bank has supported PMGSY since its inception in 2004. So far it has invested over $1.8 billion in loans and credits mostly in the economically weaker and hill states across North India Bihar, Himachal Pradesh, Jharkhand, Meghalaya, Rajasthan, Uttarakhand, and Uttar Pradesh. It has built and improved about 35,000 km of rural roads and benefited about eight million people with access to all-weather roads.

flag
Suggest Corrections
thumbs-up
0
Join BYJU'S Learning Program
similar_icon
Related Videos
thumbnail
lock
Biodiversity Conservation
BIOLOGY
Watch in App
Join BYJU'S Learning Program
CrossIcon