ADB disseminates $350 million loan for infra development in Maharashtra
The Asian Development Bank (ADB) has signed an agreement with the Government of India to disseminate $350 million loan to Maharashtra Government for the improvement of the connectivity of the key economic areas in the state.
The agreement was signed between Rajat Kumar Mishra, Additional Secretary, Department of Economic Affairs in the Ministry of Finance and Hoe Yun Jeong, Officer-in-Charge of ADB’s India Resident Mission.
Mishra said the project will improve connectivity and facilitate access to services and accelerate the inclusive economic growth of the districts lagging in the state. According to Jeong, the project will further support to the onging endeavour to upgrade major district roads and the highways in the state.
Under this project, over 319 km of the highways and 149 km of district roads in the state will be upgraded across the 10 districts Hingoli, Ahmednagar, Jalna, Nagur, Kohalpur, Nashik, Nanded, Sangli, Satara and Pune. The project will help in connecting underdeveloped rural communities with markets and improve access to the healthcare and social services. It will also improve agricultural value chains.
