India And ADB Signs $110 Million Loan to Improve Rural Connectivity in MP

The government of India and Asian Development Bank (ADB) signed a $110 million loan to finance the upgrade of 2,800 kilometers all-weather rural roads in the State of Madhya Pradesh under the Prime Minister’s Rural Roads Program (PMGSY). 
Tranche 2 loan is part of the $500 million Second Rural Connectivity investment Program for India approved by the ADB Board in December 2017. 
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.