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Thursday, Sep 19, 2019

$200 million ADB loan for Maharashtra road projects

The agreement was signed by Sameer Kumar Khare, Additional Secretary (Fund Bank and ADB), Department of Economic Affairs in the Ministry of Finance, and Sabyasachi Mitra, Deputy Country Director of ADB’s India Resident Mission.

business Updated: Sep 09, 2019 18:04 IST
Indo Asian News Service
Indo Asian News Service
Mumbai
Asian Development Bank provided a loan of $200 million to the Maharashtra government to repair its bad roads all over the state.
Asian Development Bank provided a loan of $200 million to the Maharashtra government to repair its bad roads all over the state. (Bachchan Kumar/ Hindustan Times)
         

The Asian Development Bank (ADB) and the government here on Monday signed a $200 million loan pact for upgrade of rural thoroughfares to all-weather roads in 34 districts of Maharashtra, improve road safety and better connectivity with markets and services.

The agreement was signed by Sameer Kumar Khare, Additional Secretary (Fund Bank and ADB), Department of Economic Affairs in the Ministry of Finance, and Sabyasachi Mitra, Deputy Country Director of ADB’s India Resident Mission.

“The Maharashtra Rural Connectivity Improvement Project will help better condition of about 2,100 km rural roads to all-weather roads with climate resilience and safety features, connecting rural communities with agricultural areas and socioeconomic centres,” said Mitra.

“Provision of contractual maintenance for five years has also been provided under the project,” he said.

“The enhanced road connectivity and better access to markets will help farmers increase farm productivity and incomes,” Khare said.

A $1 million technical assistance has also been provided for strengthening of the Maharashtra Rural Road Development Association (MRRDA) in areas like road asset management, road safety, climate-resilient design and construction, and web-based real-time project monitoring.

First Published: Sep 09, 2019 18:04 IST