Road projects in AP get a nod from World Bank

Hyderabad,Oct  16:  Road safety continues  to be  a huge problem in Andhra Pradesh. In order to  tackle a problem of this  sort the World Bank has approved a $320 million loan to India, designed to improve quality, capacity and safety of roads in the state of Andhra Pradesh, according to   reliable   sources here.According to the   reports  the  loan is  from the International Bank for Reconstruction and Development (IBRD) with a maturity of 30 years, including a grace period of 5.5 years.

It would help finance the Andhra Pradesh Road Sector Project designed to upgrade about 429 km of priority state highways and finance long-term maintenance of over 6,000 km of the state's core road network.Road transport is vital to Andhra Pradesh's economy, accounting for more than 80 percent of freight and passenger traffic, the Bank said noting the State Government has invested heavily to improve its transport infrastructure.