Home » World Bank agrees to lend Rs 11.6 bn for transport project

World Bank agrees to lend Rs 11.6 bn for transport project

World Bank agrees to lend Rs 11.6 bn for transport project
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The Rs 2,403 crore second phase of the Kerala State Transport Project (KSTP) received partial funding from the World Bank.

The multilateral lending agency signed a loan agreement with the Department of Economic Affairs to make available Rs 1,166 crore for the project.

Under the second phase, the Kerala government would develop 367 km of state highways spread over eight corridors to international standards.

Sanjeev Kaushik, director, Department of Economic Affairs, and Arnab Bandyopadhyay, senior transport engineer, South Asia region, Sustainable Development Unit India Country Office, World Bank, signed the agreement.

The Kerala government allocated Rs 280 crore for the project in its budget 2013-14 presented recently.

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