The Asian Development Bank (ADB) and the Government of India signed a $350 million loan for improving about 1,500 kilometers of major district roads in Madhya Pradesh in line with the State’s Road Development Plan.
The Project will involve upgrading roads with concrete pavements, strengthening culverts and bridges, and maintaining the improved road assets for a period of five years.
Along with ADB’s loan, the Government of Madhya Pradesh will provide counterpart support of $150 million. The project will run for almost four years with an expected completion date of March 2021.
Takeaways from above News-
- Madhya Pradesh is the second largest State in the country (area wise- 308,000 square kilometers)
- ADB and GOI signed a $350 million loan for Madhya Pradesh
- ADB was formed on 19 December 1966
- Takehiko Nakao is the President of ADB
- Motto of ADB is ‘Fighting poverty in Asia and the Pacific’
If you have any other takeaways, do share with us in the comment section
Source- The Hindu