The 943 Asian Development Bank (ADB) said it will provide around US$2 billion for constructing new rural roads in five Indian states, according to The Hindu newspaper.
The projects in Assam, Madhya Pradesh, Odisha, Chhattisgarh and West Bengal states, will involve constructing and upgrading 31,000km of rural roads that will improve connectivity to more than 12,500 villages.
The move will also provide more employment opportunities in the area, improve school enrolment and provides better remuneration for farmers' produce.
ADB also launched a report “India Development Effectiveness Brief 2014” that details ongoing infrastructure projects, not only for roads.
ADB-supported Rural Roads Sector Investment Programmes have built or upgraded more than 22,000 km of rural roads
The Press Trust of India said support to rural roads constitutes about 60% of ADB’s total lending in the transport sector in India that includes state and national highways. ADB said that India continues to remain its largest borrower.
Since 1986 and up to December 2014, ADB approved 189 loans totalling $31.3 billion, the Press Trust reported. ADB has also approved 50 non-sovereign loans, equity investments, and guarantees totalling $3.6 billion. The bank plans to lend about $3 billion to India for various projects during 2015, ADB said.
The projects in Assam, Madhya Pradesh, Odisha, Chhattisgarh and West Bengal states, will involve constructing and upgrading 31,000km of rural roads that will improve connectivity to more than 12,500 villages.
The move will also provide more employment opportunities in the area, improve school enrolment and provides better remuneration for farmers' produce.
ADB also launched a report “India Development Effectiveness Brief 2014” that details ongoing infrastructure projects, not only for roads.
ADB-supported Rural Roads Sector Investment Programmes have built or upgraded more than 22,000 km of rural roads
The Press Trust of India said support to rural roads constitutes about 60% of ADB’s total lending in the transport sector in India that includes state and national highways. ADB said that India continues to remain its largest borrower.
Since 1986 and up to December 2014, ADB approved 189 loans totalling $31.3 billion, the Press Trust reported. ADB has also approved 50 non-sovereign loans, equity investments, and guarantees totalling $3.6 billion. The bank plans to lend about $3 billion to India for various projects during 2015, ADB said.
