The Centre and Asian Development Bank (ADB) has signed a 220 million dollar loan for improving connectivity as well as transport efficiency and safety on State Highways of Rajasthan.
The loan is the first tranche of the 500 million dollar Rajasthan State Highways Investment Program, approved by ADB Board in May this year. An official release said the first tranche loan will improve about one thousand kilometres of State Highways and major district roads.
Important Takeaways from the above News:
- The Asian Development Bank was conceived in the early 1960s as a financial institution that would be Asian in character and foster economic growth and cooperation in one of the poorest regions in the world.
- Takehiko Nakao is present president of the Asian Development Bank.
- Manila, Philippines is headquarters of ADB.
Source- All India Radio (AIR News)