Union Road Transport Minister, Mr Kamal Nath, said after a meeting with World Bank President, Mr Robert Zoellick in New Delhi that The Road Transport and Highways Ministry would like to consult World Bank for technical, financial and legal inputs for the identified mega highway projects of the National Highways Authority of India and the proposed Expressways.
Speaking to reporters, Mr. Kamal Nath said, “The World Bank is willing to look at funding the viability gap and (build-operate-transfer) annuity projects…not only in terms of financing but institutional support as well.” Uptil now, the World Bank funds projects on an EPC basis.
According to an official release, The World Bank is willing to partner NHAI in doing a review of PPP projects (BOT-Annuity and viability gap funding based) and to identify projects amenable for utilising bank lending support. A proposal for seeking World Bank loan assistance for up-gradation of 6376 km of National Highways was discussed in the meeting. Mr Nath informed that officials from the World Bank would be visiting India in 2010 to better identify the project.
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