India on 2 January 2014 has signed a credit agreement of 160 million dollar with World Bank for Rajasthan Road Sector Modernisation Project (RRSMP). On behalf of the Government of India, the agreement was signed by Nilaya Mitash, the Joint Secretary, Department of Economic Affairs Ministry of Finance and on behalf of World Bank it was signed by Manoj Jain, the action Director, New Delhi.
Similarly on behalf of Government of Rajasthan, the project agreement was signed by JC Mohanty, the Principal Secretary of Public Works Department. The project aims to improve the rural connectivity and enhance road safety by strengthening road sector management capacity of Rajasthan.
Components of the project are
• Rural Connectivity Improvement
• Road Sector Modernization and Performance Enhancement
• Road Safety Management
The closing date of the project has been decided December 2013.
If you have any Question/Point on the above information, please ask/discuss it in the Current Affairs Group