ADB
An estimated 350 million USD will be provided as loan assistance by the Asian Development Bank for the upliftment of Madhya Pradesh district roads. According to a statement provided by the Asian Development Bank, it has planned to offer 350 million USD in loan for assisting the upgrading of district roads in the state which [...] Continue Reading »
On Wednesday Asian Development Bank (ADB) announced that it would provide up to $7-9 billion loan to the country over the next three years. This money will be used for supporting the infrastructure development in India. Takehiko Nakao the president of ADB talked about this new development in New Delhi and mentioned that ADB’s operations for India [...] Continue Reading »
During the course of their meeting in Brazil on Tuesday, the leaders of the BRICS countries – Brazil, Russia, India, China, and South Africa – gave their approval to the formation of the BRICS Bank. It was back in 2011-12 that India – during its chairmanship of the BRICS grouping – had floated the idea of [...] Continue Reading »
Financial assistance of Central government for the Jaipur Metro Phase-I project might not be taken by the state government. “The total project cost for Phase-I is Rs 3,149 crore said a senior official source. The previous state government had sanctioned Rs 1,802. More funds might not be required as recently, the BJP-led government, too, has [...] Continue Reading »
The Government of India has signed a $125 million loan agreement with Asian Development Bank (ADB). The amount would be utilized for upgrading of roads in North Eastern states.’ The North Eastern States Roads Investment Program’, as it is known, is designed to reconstruct roads in the North Eastern states of Assam, Manipur, Mizoram, Tripura, Meghalaya, and Sikkim, thereby cutting [...] Continue Reading »
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 [...] Continue Reading »
The Asian Development Bank (ADB) has approved Rs 966.75 crore for 484 new road projects to be implemented across 14 districts of Odisha hit by tropical cyclone Phailin and the subsequent floods. A total road network of 1790.37 Kms will be re-established by utilizing the funds from the bank. ADB has approved the assistance under the third tranche of [...] Continue Reading »
