ADB to lend $300 million to India for Better Road Connectivity

ADB to lend $300 million to India for Better Road Connectivity

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highwayThe Asian Development Bank (ADB) has decided to provide a loan of USD 300 million to India for improving road infrastructure across the country.

This would help in increasing the domestic and regional trade along the North Bengal-North Eastern Region (NER). ADB has signed a pact with Ministry of Finance and the duration for repayment of loans is fixed at 25 years.

Tarun Bajaj, Joint Secretary (Multilateral Institutions), Department of Economic Affairs, Ministry of Finance has signed the Agreement  With M Teresa Kho, Country Director of ADB’s India Resident Mission  regarding the same.

M Teresa Kho, Country Director, ADB India, said that “Better road connectivity will enable efficient and safe transport within India and regionally with other SASEC member countries. “

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