A USD 175 million loan agreement signed between the Government of India and the Asian Development Bank
Current Hunt Team
A USD 175 million loan agreement signed between the Government of India and the Asian Development Bank (ADB).
the loan agreement was signed to improve the connectivity of roads in the state of Madhya Pradesh.
The loan agreement was signed by Ms. Juhi Mukherjee, Joint Secretary, Ministry of Finance, on behalf of the GoI, and Takeo Konishi, Country Director, ADB India Resident Mission, on behalf of ADB.
This project will enhance connectivity in the state road network in 14 districts to enable balanced economic development in Madhya Pradesh.
In Madhya Pradesh, the ADB has supported the road development program since 2002 by upgrading more than 9,000 kilometers of state highways and major district roads.
The project will convert about 500 km of state highways and major district roads into standard two-lane roads.
These roads will include climate and disaster-resilient designs, innovative road safety elements, and features that cater to the needs of the elderly, women, children, and people with disabilities.
ADB will build the capacity of Madhya Pradesh Road Development Corporation Limited (MPRDC) on climate change adaptation and mitigation, disaster resilience, and road safety in road network planning and management.
The project will help in formulating strategies and plans for using green technology in road construction and setting up charging infrastructure for electric vehicles.
