ADB to provide US$222.22 mn loan for rural roads

ADB to provide US$222.22 mn loan for rural roads

by CW India Staff on Aug 3, 2010

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Asian Development Bank (ADB) will provide a loan of US$222.2 million under the Rural Roads Sector II Investment Programme.

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An agreement to this effect was signed between the government of India, the ADB and various state governments involved in the programme. According to the agreement, the loan amount would be utilized for construction and upgradation of roads in Madhya Pradesh, Chattisgarh, West Bengal and Orissa.
The government said that around 2443 km of roads will be taken up for construction and upgradation in Madhya Pradesh; 1509 km in Orissa; 443 km in West Bengal; and 312 km in Chattisgarh, under the programme.
The loan agreement was signed by Dr Anup Pujari, Joint Secretary, Ministry of Finance and Hun Kim, Country Director, ADB. The representatives from the respective states also signed the agreement.
The Rural Road Sector II Investment Programme was approved on 6th July, 2010. This is the last tranche of the US$750 million Rural Road Sector II investment programme, approved in 2005 as a Multi Financing Facility (MFF) for the states of Assam, Chattisgarh, Madhya Pradesh, Orissa and West Bengal.

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