New Delhi, Aug 30 (KNN) Focusing on enhancing transport facility along regional trade corridors  and improving trade related infrastructure, World Bank will provide assistance of USD 107 million for Second Mizoram State Roads Project (MSRP II).

“A Credit Agreement for World Bank (IDA) assistance of USD 107 million for Second Mizoram State Roads Project (MSRP II) has been signed between the Government of India and the World Bank here,” Ministry of Finance said in a statement yesterday.

The project is fully funded through the International Development Agency (IDA) assistance of USD 107 million. It is the first project facilitating regional connectivity in transport sector undertaken in India with Bank support. 

The objective of the project is to enhance transport connectivity along regional trade corridors in Mizoram, said the release.

The project will focus on improvement of priority cross-border roads connecting Bangladesh and Myanmar, as also on trade related infrastructure. Thus, the Mizoram State Roads Project will be an important milestone in enhancing the connectivity for the state of Mizoram and the rest of NE India with Bangladesh and Myanmar, it added.

The Agreement was signed by Joint Secretary (MI), Department of Economic Affairs, Nilaya Mitash, on behalf of the Government of India and Country Director, World Bank, India, Onno Ruhl, on behalf of the World Bank. (KNN/SD)