Agreement signed with ADB for rural roads
Three tranches amounting to US$387.65 million have been approved under the rural road sector II Investment Program by the Asian Development Bank (ADB). The tranches are ongoing in the States of Assam, Orissa and West Bengal.
The Rural Road Sector II Investment Program was approved in 2005. The full facility is for an amount of US$750 million. Under Tranche-IV [Rural Road Sector II Investment Program – Project-4], ADB would provide a loan of US$ 185 million, to be utilized for improving rural roads covering 917 Kms in Assam, 1499 Kms in Orissa and 696 Kms in West Bengal.
Dr. Anup K. Pujari, Joint Secretary (MI), Department of Economic Affairs, Ministry of Finance has signed the loans on behalf of the Government of India (GOI) and Tadashi Kondo, Country Director, India Resident Mission, Asian Development Bank (ADB) signed on behalf of ADB.
Jitendra Kumar, Director, Ministry of Rural Development; Prasanta Kr. Chetia, Deputy Secretary (Highways), PWD, Government of Assam; M Satyanarayan, Resident Commissioner, Government of Orissa and Bhaskar Khulbe, Resident Commissioner, Government of West Bengal signed the loan
on behalf of the respective Ministry and the State Governments.
With the processing of Tranche-IV, balance available under the facility would be US$ 177.35 million.