Asian Development Bank to provide $608 m for infra development in Bihar, Orissa
ADB to provide $608 m for infra development in Bihar, Orissa
NEW DELHI: Multilateral funding agency Asian Development Bank on Friday said it will provide loan worth $608.2 million to Bihar and Orissa, for upgrading their infrastructure. Asian Development Bank (ADB) will provide 25-year loan worth $420 million to Bihar for upgrading and expansion of the state's highway network aimed at supporting economic expansion and alleviates poverty. The Bihar State Highways Project, with a total investment of $468 million, will improve about 820 km of road under the state' s highway development programme.
A $ 1 million-technical assistance has also been granted for reforming road sector institutions. Centre will give the remaining $48 million for the project. With the expanding economy, demand for good roads has increased as they "will improve access to socio-economic services, increase employment opportunities and improve transport services, which will reduce poverty in the region,'' a senior ADB official said in a statement.
The funding agency will also provide a $188.2 million multi-tranche loan to help in modernising the irrigation infrastructure and management systems in Orissa. The investment will focus on four northern river basins and a part of the Mahanadi River Delt a in Orissa. - PTI