Recently which organisation has approved a $250 million

Solution

The World Bank has approved a $250 million loan to support the Government of India’s road safety programme for seven States under which a single accident reporting number will be set up to better manage post-crash events. The India State Support Programme for Road Safety, financed by the World Bank, will be implemented in the States of Andhra Pradesh, Gujarat, Odisha, Tamil Nadu, Telangana, Uttar Pradesh, and West Bengal. The $250 million variable spread loan from the International Bank for Reconstruction and Development (IBRD) has a maturity of 18 years, with a grace period of 5.5 years. The project will also establish a national harmonised crash database system in order to analyse accidents and use that to construct better and safer roads. The project will also provide incentives to States to leverage private funding through public private partnership (PPP) concessions and pilot initiatives. About World Bank Headquarters: Washington, D.C. Founded: July 1944 President: David Malpass Motto: Working for a World Free of Poverty Founders: John Maynard Keynes, Harry Dexter White