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.