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Odisha among five states to receive $273 mn ADB loan for improving roads

Odisha among five states to receive $273 mn ADB loan for improving roads

New Delhi: India and the Asian Development Bank (ADB) on Monday inked a $273 million loan agreement aimed at improving rural road infrastructure in five states, including Odisha, Assam and West Bengal, it was announced here on Monday. A finance ministry statement said under the agreement, the funds will be used for laying 6,000 km […]

Published: Monday, 09 November 2015
Last updated: 09 November 2015, 07:00 PM IST

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New Delhi: India and the Asian Development Bank (ADB) on Monday inked a $273 million loan agreement aimed at improving rural road infrastructure in five states, including Odisha, Assam and West Bengal, it was announced here on Monday.

A finance ministry statement said under the agreement, the funds will be used for laying 6,000 km of all-weather roads in Chhattisgarh, Madhya Pradesh, Odisha besides Assam and West Bengal.

The $273 million loan is the third and final tranche of the $800 million financing facility under the Rural Connectivity Investment Programme, the statement said.

"The enhanced connectivity will improve access of rural communities to markets, district headquarters, health and education facilities, and other centres of economic activity," it said.