India and ADB Sign $346 Million Loan to Improve State Highways in Karnataka

The Asian Development Bank (ADB) and the Government of lndia signed a $346 million loan to finance improvement of over 400 kilometers of state highways that will enhance connectivity and access to economic centers across 12 districts in Karnataka. 
An ongoing road improvement project financed by ADB with a loan of $315 million is under implementation, which involves upgradation of about 615 kilometres of state roads. 
Source- Press Information Bureau (PIB)

Static/Current Takeaways Important for Indian Bank PO Exam 2018- 
  • The Asian Development Bank is a regional development Bank established in 1966.
  • Headquarters of ADB is in Manila, Philippines.
  • Takehiko Nakao is Present President of the Asian Development Bank.