Himachal Chief Minister Jai Ram Thakur on Wednesday thanked Prime Minister Narendra Modi, Union Finance Minister Nirmala Sitharaman, Union Minister of State for Finance and Corporate Affairs Anurag Thakur and World Bank for signing $112 million (Rs. 840 crore) project to support Himachal Pradesh for strengthening its transport and road safety institutions by improving the condition, safety, resilience and engineering standards of State’s road network.
In the Rs. 840 crore project signed, Rs 615 crore would be the share of the World Bank and Rs 225 crore would be from the State Government. This is the first project to which a loan agreement has been signed with the World Bank post Covid-19 pandemic outbreak in the Country. The CM said there are three components under tranche-I of the project. In the first component of the project, which is construction and flexibility of Himachal Pradesh Transport Institutions improvement of institutions would be done under which, HP State Road and Other Infrastructure Development Corporation would be re-established and operated, commercialisation of operation of labour and maintenance of Himachal Pradesh Public Works Department, setting up of Himachal Pradesh Motor Vehicle Administration, strengthening of Himachal Pradesh Transport Department and development of logistic system and strategy.