The World Bank announced on Wednesday that three projects in Assam had received loans totalling USD 680 million from its executive board.
According to a statement from the Washington-based multilateral funding organization, the World Bank's Board of Executive Directors approved three projects on Tuesday to help Assam become more resilient to extreme weather events, enhance governance and service delivery, and give more than 4 million students the skills they need to thrive in the workforce.
According to the announcement, the Assam Disaster Resilient Hill Roads Development Project would get USD 350 million in loan support to help create climate resilient roads, particularly in mountainous areas, and shorten travel times for roughly 190,000 people in rural and tribal communities.
According to the idea, better transportation and logistics hubs with truck bays, container bays, taxi and bus bays, and electric vehicle charging stations will enhance connectivity.
A loan of about USD 250 million has been set aside for the School Education and Adolescent Wellbeing Project in order to improve learning outcomes for over 2 million elementary school students throughout the state and prepare an additional 2 million adolescents (ages 10 to 19) for employment through improved curriculum, including multilingual classes, and life skills training.
Assam's data ecology, the distribution and use of public funds, and the provision of administrative services to individuals and companies will all be strengthened under the USD 80 million Assam Governance and Service Delivery Program.
"The Assam Disaster Resilient Hill Roads Development Project has a final maturity of 16 years including a grace period of three years; the Assam: School Education and Adolescent Wellbeing Project has a final maturity of 16 years including a grace period of three years; and the Assam Governance and Service Delivery Program for Results has a final maturity of 16 years including a grace period of three years," it stated.
