New Delhi: The World Bank said on 21 September that road development holds immense investment potential in India as such projects would require about $88 bn in the next five years.
“We might see our portfolio size further expand in the next few years as the government would require funds to complete its target of road development in the country,” World Bank transport specialist (South Asia sustainable development) Rajesh Rohatgi said.
He said road development in the country would account for about $88 billion out of the total projected investment of $500 billion in infrastructure sector over the next five years.
The multilateral funding agency has already invested about $5 billion in the country on road projects including national highways, state highways and rural roads.
“The bank has already funded about $5 billion on road projects in the country and about $1.4 billion funding plans are under preparation currently,” Rohatgi said.
The World Bank is funding 12 state highways, few segments in the Golden Quadrilateral project, highway upgradation programmes and the Prime Minister Gram Sadak Yojna (PMGSY).
In the rural road projects, through PMGSY, the bank is funding $400 million in Jharkhand, Himachal Pradesh, Rajasthan and UP. The funding from the bank for these projects was started in 2005 and will close on 31 March 2010. About 53% of the funds have been disbursed by the bank at the end of August.