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ADB to extend $200 million loan for upgrading roads in Bihar

PTI | Updated on: 26 Nov 2018, 09:45:40 PM
ADB to extend $200 million loan for upgrading roads in Bihar (Representational Image)

New Delhi:

The Centre and the Asian Development Bank (ADB) Monday signed a $200 million loan agreement to finance widening and upgrading of about 230 km of state highways in Bihar to all-weather standards with road safety features, according to an official release.

Since 2008, ADB has provided four loans amounting to $1.43 billion to Bihar for upgrading about 1,453 km of state highways and constructing a new bridge over the Ganga River near Patna.

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Bihar State Highways III Project, approved by the ADB Board in October this year, will involve upgrading state highways to standard two-lane width with road safety features and paved shoulders including reconstructing, widening, and strengthening culverts and bridges, the release said.

The project will also build institutional capacity of the state for road design and maintenance and incorporate appropriate new technologies in the state’s road subsector.

In 2017, ADB operations totalled $32.2 billion, including $11.9 billion in co-financing.

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First Published : 26 Nov 2018, 09:45:07 PM