ADB and Centre sign 250 mn dollar loan agreement

Asian Development Bank and the Centre have signed a 250 million dollar loan to finance the construction of over 6,200 kilometres all-weather rural roads in Assam, Chhattisgarh, Madhya Pradesh, Odisha and West Bengal under the Pradhan Mantri Gram Sadak Yojana (PMGSY).

The program is aimed at improving rural connectivity, facilitating safer and more efficient access to livelihood and socio-economic opportunities for rural communities through improvements to about 12 thousand kilometres Rural Roads across the 5 States.

Joint Secretary (Multilateral Institutions) in Department of Economic Affairs Sameer Kumar Khare signed the loan agreement on behalf of Government of India. Speaking on the occasion, Mr Khare said, the ADB-funded investment program will provide continued assistance to the PMGSY and support the Government’s long-term goal for rural development.

He said, the programme is likely to have a transformative impact in terms of rural economy and will also bring in greater efficiency in terms of access and connectivity for the rural people in the five States.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s