ADB offers USD 252 million loan for road development in India

New Delhi, April 2 : The Asian Development Bank (ADB) Tuesday offered USD 252 billion loan for development of rural roads in Assam, Chhattisgarh, Madhya Pradesh, Odisha, and West Bengal.

Representatives of the ADB, Indian government and respective state governments signed the loan agreements here.

"The loan represents the first tranche of a USD 800 million financing facility under the Rural Connectivity Investment Programme," the finance ministry said in a statement.

The money will be used to construct 3,461 km of all-weather rural roads in the five states, benefiting nearly 1,600 rural habitations.

"The second goal is to improve the capacity of implementing agencies through rural connectivity training and research centres and rural roads network management units," it said.

The federal ministry of rural development is the executing agency of the project at the central level while the implementing agencies at the state level will be the respective state rural roads development agencies.

The first tranche is expected to be completed in December 2015.

--IANS (Posted on 02-04-2013)

business-india-news headlines

Mindtree, IGD launch inaugural e-commerce award

GlacialLight launches low bay lights

DLF leases 3 million sqft office space in FY 14

Tanishq launches special Akshaya Trithiya offers

Azure Power joins Accenture for ERP solution

Air India to lease aircraft to generate cash

Woo your taste buds with Birizza

Infotech's net up by 15 percent

69 percent cyber attacks targeted at large companies in India: Report

OPEC daily basket price closes lower

Bond market's take on Indian election outcome

Russian JV venture promises to end India's butyl rubber import

Quick Links: Goa | Munnar | Pondicherry | Free Yearly Horoscope '2014


Your e-mail:

Your Full Name:

Type verification image:
verification image, type it in the box


Back to Top