India, ADB sign $250 mn loan agreement for rural roads

New Delhi, Jan 30 (IANS) The Indian government and the Asian Development Bank on Tuesday signed a $250 million loan agreement to finance construction of roads in Assam, Chhattisgarh, Madhya Pradesh, Odisha and West Bengal, an official statement said.

The loan would be utilised to construct 6,254 km of "all-weather roads" in the five states under the Prime Minister's Rural Roads Programme, said the Finance Ministry release.

"The first tranche loan is part of the $500 million Second Rural Connectivity Investment Programme for India approved by the ADB Board in December 2017.

"In view of increased rainfall and storm surges in the project states, the road designs will take into account these climate risks with measures such as greater elevation of road embankments, slope protection, and better drainage in flood-prone areas," the ministry said.

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