India, ADB sign USD 177 million loan for state road improvements in Maharashtra

India, ADB sign USD 177 million loan for state road improvements in Maharashtra

The Asian Development Bank (ADB) and the Government of India signed a $177 million loan to upgrade 450 kilometers (km) of state highways and major district roads in the state of Maharashtra.

The MoU Signed by

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.

Benefits

The project will improve connectivity between rural areas and urban centres in the state enabling rural communities to better access markets, employment opportunities and services. Improved mobility will expand development and livelihood opportunities outside of the state’s major urban centers to second-tier cities and towns thus reducing income disparities.

Also Read: Indian Bank signs MoU with SIDBI for street vendors

Overall the project will upgrade 2 major district roads and 11 state highways, with combined length of 450 km, to 2-lane standard across seven districts of Maharashtra, and improve connectivity to national highways, interstate roads, seaports, airports, rail hubs, district headquarters, industrial areas, enterprise clusters and agricultural areas.

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.