Asian Development Bank will give a loan of USD 250 million to the Indian government for construction of all-weather roads in five states under the Prime Minister’s rural road development scheme.
The Asian Development Bank (ADB) and the Government of India signed a $250 million loan to finance the construction of 6,254 kilometers all-weather rural roads Assam, Chhattisgarh, Madhya Pradesh, Odisha and West Bengal under the Prime Minister’s Rural Roads Programme (PMGSY).
- The first tranche of loan is part of the USD 500 million Second Rural Connectivity Investment Programme for India, approved by the ADB Board in December 2017.
- Kenichi Yokoyama, Country Director of ADB’s India Resident Mission who signed the agreement for ADB.
- Asian Development Bank Headquarters: Mandaluyong(Philippine), President: Takehiko Nakao