IDA Loan: US$500 million
Terms: Maturity = 18 years; Grace = 5 years
IDA Credit: US$1000 million equivalent
Terms: Maturity = 35 years; Grace = 10 years
Project ID: P124639
Project Description: The program was established in 2000 to address the challenge of poor rural accessibility at a time when almost 40 percent, or 300 million people in the country lacked access to all weather roads and a large part of the existing 2.7 million km of the rural road network were in poor condition, impeding access to markets and increasing transportation costs. While the PMGSY has since added 274,000km of new roads, vast parts of the country, especially in economically weaker and hilly areas, continue to remain inaccessible. The funding for this project will help make these roads more accessible.
