ADB and India inks USD 177 million loan for Maharashtra

The Asian Development Bank (ADB) and the Government of India have signed a loan agreement worth USD 177 million, to upgrade 450 km of state highways and major district roads in Maharashtra. The project aims to improve connectivity between rural areas and urban centres in the state to enable rural communities to have better access to markets, employment opportunities and services, which in turn will expand development and livelihood opportunities outside of the state’s major urban centres to second-tier cities and towns thus reducing income disparities.

Boost your Banking Awareness Knowledge with Adda247 Live Batch: TARGET GA BATCH | Banking Awareness Batch for SBI, RRB, RBI and IBPS Exams

About the Project:

• Under the project, 2 major district roads and 11 state highways, with a combined length of 450 km, will be upgraded to 2-lane standard across seven districts of Maharashtra.
• The Government of Maharashtra will contribute $78.99 million equivalent toward the $255.99 million total costs of the project.

Important takeaways for all competitive exams:

• Chief Minister of Maharashtra: Uddhav Thackeray; Governor: Bhagat Singh Koshyari.
• Folk Dance of Maharashtra: Lavani, Koli Dance, Lezim, Pavri Nach.
• President of Asian Development Bank: Masatsugu Asakawa.
• Asian Development Bank Headquarters: Mandaluyong, Philippines.
• Asian Development Bank Founded: 19 December 1966.

Find More State In News Here