New Delhi: Asian Development Bank will provide USD 350 million loan to government for upgradation of roads in Madhya Pradesh.
ADB release said, “The Government of India and the Asian Development Bank today signed an agreement for a USD 350 million loan to upgrade district roads in Madhya Pradesh.” The Madhya Pradesh District Connectivity Sector project will improve about 1,600 kilometers of major district roads in the state through lane widening, surface improvements, and strengthening of culverts and bridges. The project includes forming State Highways Fund on PPP model, toll plus annuity on hybrid model of Build Operate Transfer mode & BOT (Annuity), Border Checkposts and PPP model to increase revenue and control overloading and damage.
Tarun Bajaj, Joint Secretary, Ministry of Finance, said, “The project will lead to improved road transport connectivity in Madhya Pradesh through reconstruction and rehabilitation of major district roads to all-weather standards.” The project will also help MP meet a substantial part of its financing requirements for improving road infrastructure, he added.
