Press Trust of India / Washington Oct 16, 2009, 13:25 IST
In order to improve the quality, capacity and safety of roads in Andhra Pradesh, the World Bank has approved a $320 million loan for road projects in the state.
The Andhra Pradesh Road Sector Project is designed to upgrade about 429 km of priority state highways and finance long-term maintenance of over 6,000 km of the state's core road network, the World Bank said in a statement.
"Improvements in road transport is vital to catalyze agricultural and industrial development and improve access to markets, jobs, and services to the people of Andhra Pradesh, especially its poor people," World Bank Country Director for India, Roberto Zagha said.
"This project will help to remove the infrastructure bottlenecks in the state, which is considered a major constraint to sustain the state's impressive economic growth in recent years," he said in a statement.
The project will not only help strengthen the Andhra Government's ability to leverage its own resources with private sector financing for road infrastructure, it would also help the state attract private sector participation in financing, development, and management of selected high traffic density corridors.
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