29 Jun 2022 Road Safety Loans to States: World Bank
Road Safety Loans to States: World Bank – Today Current Affairs
- Recently the World Bank has approved a loan of US $ 250 million for the India State Assistance Program for Road Safety in seven states, under which a single accident report number to better manage post-accident incidents. (Single Accident Reporting Number) will be established.
Today Current Affairs
World Bank:
- The International Bank for Reconstruction and Development (IBRD) and the International Monetary Fund (IMF) were established together in 1944 during the Bretton Woods Conference in New Hampshire, USA.
- The World Bank Group is a unique global partnership of five institutions working towards sustainable solutions that reduce poverty and build shared prosperity in developing countries.
Member : The Hindu Analysis
- 189 countries are its members.
- India is also its member.
Major Reports : The Hindu Analysis
- Human Capital Index.
- World Development Report.
Its five development institutions : The Hindu Analysis
- International Bank for Reconstruction and Development (IBRD)
- International Development Association (IDA)
- International Finance Corporation (IFC)
- Multilateral Guarantee Agency (MIGA)
- International Center for Settlement of Investment Disputes (ICSID)
- India is not its member.
Main features of the program : The Hindu Analysis
- The project will establish a national harmonized crash database system to analyze accidents and use it to build better and safer roads.
- The USD 250 million convertible spread loan from the International Bank for Reconstruction and Development (IBRD) has a maturity period of 18 years including a grace period of 5.5 years.
- It will be implemented in Andhra Pradesh, Gujarat, Odisha, Tamil Nadu, Telangana, Uttar Pradesh and West Bengal.
Target : The Hindu Analysis
- It aims to fund network expansion of basic and advanced life support ambulances and on the spot training of first responder caregivers for road accident victims.
- The project will also provide incentives to states to take advantage of private financing through Public Private Partnership (PPP) concessions and pilot initiatives.
- Women have to bear the brunt of road accidents indirectly. Recognizing this challenge, the project has a gender-specific focus and will promote the representation of women in management roles in the road safety sector.
- The project will also provide employment opportunities for women especially in post-crash care command and control centres.
Road Accident Scenario in India : The Hindu Analysis
- Official government statistics show that about 150,000 people are killed and another 450,000 are injured in road accidents in India every year.
- More than half of the victims are pedestrians, cyclists or motorcyclists, and about 84% of all deaths are among the working age group of 18-60 years.
- Poor households, which account for more than 70% of accident victims, bear a high proportion of the socio-economic burden of road accidents due to lack of income, high medical expenses and limited access to the social safety net.
Initiatives for Road Safety:
3rd High Level Global Conference on Road Safety 2030 to Achieving Global Goals : The Hindu Analysis
- The Ministry of Road Transport and Highways (MoRTH) participated in a conference in Sweden in the year 2020 (3rd High Level Global Conference on Road Safety 2030 to Achieving Global Goals 2030), where India has set a target of zero road accidents by 2030.
Brasilia Declaration : The Hindu Analysis
- India has signed the Brasilia Declaration and is committed to reducing the mortality rate.
- The Declaration was signed at the 2nd Global High Level Conference on Road Safety held in Brazil.
Motor Vehicles (MV) (Amendment) Act, 2019 : The Hindu Analysis
- It has increased the penalties for traffic violations, faulty vehicles, juvenile driving etc.
- It provides the Motor Vehicle Accident Fund, which will provide compulsory insurance cover to all road users in India for certain types of accidents.
Here we mention all information about Road Safety Loans to States: World Bank Today Current Affairs.
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