World Bank Approves $680 Million for Assam's Development Projects
Significant Financial Support for Assam
New Delhi, Jan 14: The World Bank announced on Wednesday that its executive board has sanctioned loans totaling USD 680 million for three key initiatives in Assam.
According to a statement from the Washington-based multilateral funding agency, the Board of Executive Directors approved these projects on Tuesday to enhance Assam's resilience against severe weather, improve governance and service delivery, and equip over 4 million students with essential workforce skills.
The Assam Disaster Resilient Hill Roads Development Project will receive USD 350 million to construct climate-resilient roads, particularly in hilly regions, thereby reducing travel time for approximately 190,000 individuals in tribal and rural areas.
This initiative aims to enhance connectivity through upgraded transport and logistics hubs, which will feature truck bays, container bays, taxi and bus bays, as well as electric vehicle charging stations.
An allocation of USD 250 million has been designated for the School Education and Adolescent Wellbeing Project, which seeks to improve educational outcomes for over 2 million primary school students statewide and prepare an additional 2 million adolescents (ages 10-19) for employment through life-skills training and an enriched curriculum, including multilingual instruction.
Additionally, the Assam Governance and Service Delivery Program, valued at USD 80 million, will focus on bolstering public financial management, enhancing the allocation and utilization of public resources, and improving the delivery of administrative services to citizens and businesses, along with the data ecosystem in Assam.
Each of these projects has a final maturity of 16 years, which includes a grace period of three years.