ADB provides $275 million loan to 5 states for improving rural roads
USD 275 million loan will be provided by Asia Development Bank to five states for improving rural road connectivity. The five states are Assam, Chhattisgarh, Madhya Pradesh, Odisha and West Bengal. Finance Ministry informed that the loan agreement has been signed. The loan is actually a part of Rural Connectivity Investment Programme, the total of which is USD 800. Nearly 1,800 rural habitations will be benefitted from the construction of 3,693 km of all-weather rural roads in these five states.
State governments will take care of overall implementation at the state level for a period of 43 months. Ministry of Rural Development (MORD) is the executing agency at the central level. By June, 2017 the second phase of the project is expected to be completed.
M Teresa Kho, Country Director, ADB, points out that economic growth in rural areas is affected by weak connectivity, particularly in these five states.
Source: The Economic Times
ADB, Asia Development Bank, Financing, Ministry of Rural Development, rural connectivity, rural roads
