ADB, India sign $177 million loan for state road improvements in Maharashtra
#GS2 #Governance #InternationalOrganisations
The Asian Development Bank (ADB) and the Government of India today signed a $177 million loan to upgrade 450 kilometers (km) of state highways and major district roads in the state of Maharashtra.
- The signatories to the Maharashtra State Road Improvement Project were Shri Sameer Kumar Khare, Additional Secretary (Fund Bank and ADB), Department of Economic Affairs in the Ministry of Finance who signed for the Government of India, and Mr Kenichi Yokoyama, Country Director of ADB’s India Resident Mission who signed for ADB.
- The project will also focus on training the Maharashtra Public Works Department project staff to build their capacity in climate change adaptation and disaster resilient features in road design, road maintenance planning and road safety.
- ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members—49 from the region.