Current Affairs - National - Discussion

The Government of India and the World Bank signed a $500 million loan agreement to provide additional financing for the Pradhan Mantri Gram Sadak Yojana (PMGSY) Rural Roads Project, implemented by Ministry of Rural Development, Govt. of India, which will build 7,000 km of climate resilient roads, out of which 3,500 km will be constructed using green technologies. The $500 million loan, from the International Bank for Reconstruction and Development (IBRD), has a 3-year grace period, and a maturity of 10 years.