India-World Bank Signs Loan Agreement for Construction of Green National Highway Corridors Project in 4 States
The Government of India, the National Highways Authority of India (NHAI), and the World Bank have signed a loan agreement for the construction of the Green National Highway Corridors Project in four Indian states. The loan agreement has been signed for an amount of $500 million. The project aims to reduce the carbon footprint of the country’s road transport sector.
The Green National Highway Corridors Project will be implemented in the states of Andhra Pradesh, Himachal Pradesh, Rajasthan, and Uttar Pradesh. The project will support the construction of approximately 783 km of highways. The highways will have features such as the use of waste materials and fly ash in road construction, the provision of wayside amenities such as toilets and rest areas, and the promotion of road safety.
According to the World Bank, the project is expected to reduce greenhouse gas emissions by about 12 million tons of CO2 equivalent over the lifetime of the highway. The project is also expected to generate employment opportunities during the construction phase and provide better connectivity to remote areas.
Why this News is Important
Boost to Sustainable Development
The Green National Highway Corridors Project is a significant step towards sustainable development in the road transport sector. The project aims to reduce the carbon footprint of the road transport sector, which is a major contributor to greenhouse gas emissions in the country. The project will also promote the use of waste materials and fly ash in road construction, which will help reduce the amount of waste generated by the construction sector.
Employment Generation
The project is expected to generate employment opportunities during the construction phase. This will provide a much-needed boost to the country’s economy, which has been severely affected by the COVID-19 pandemic.
Better Connectivity
The construction of highways in remote areas will provide better connectivity to these areas. This will help in the development of these areas and will provide opportunities for economic growth.
Historical Context
India has been focusing on sustainable development in recent years. The government has launched several initiatives aimed at reducing the carbon footprint of the country’s infrastructure. The Green National Highway Corridors Project is part of this initiative and is aimed at promoting sustainable development in the road transport sector.
5 Key Takeaways from “India-World Bank Signs Loan Agreement for Construction of Green National Highway Corridors Project in 4 States”
| Serial No. | Key Takeaway |
|---|---|
| 1. | The Government of India, NHAI and the World Bank have signed a loan agreement for the construction of the Green National Highway Corridors Project in four Indian states. |
| 2. | The project will reduce the carbon footprint of the road transport sector and promote sustainable development. |
| 3. | The project will be implemented in the states of Andhra Pradesh, Himachal Pradesh, Rajasthan, and Uttar Pradesh. |
| 4. | The project will support the construction of approximately 783 km of highways. |
| 5. | The project is expected to generate employment opportunities during the construction phase and provide better connectivity to remote areas. |
In conclusion, the Green National Highway Corridors Project is a significant step towards sustainable development in the road transport sector. The project aims to reduce the carbon footprint of the sector and promote the use of waste materials and fly ash in road construction. The project is expected to generate employment opportunities and provide better connectivity to remote areas.
Important FAQs for Students from this News
Q.1 What is the Green National Highway Corridors Project?
A. The Green National Highway Corridors Project is an initiative by the Indian government to develop eco-friendly highways across the country.
Q.2 Which four states are covered under the Green National Highway Corridors Project?
A. The Green National Highway Corridors Project covers the states of Rajasthan, Himachal Pradesh, Uttar Pradesh, and Andhra Pradesh.
Q.3 How much loan agreement has been signed by India and the World Bank for the Green National Highway Corridors Project?
A. India and the World Bank have signed a loan agreement worth $500 million for the Green National Highway Corridors Project.
Q.4 What is the objective of the Green National Highway Corridors Project?
A. The objective of the Green National Highway Corridors Project is to enhance the capacity and sustainability of the national highway network in the selected states.
Q.5 Who will implement the Green National Highway Corridors Project?
A. The National Highways Authority of India (NHAI) will implement the Green National Highway Corridors Project.
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