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ADB, India Sign Loans To Improve Connectivity In Assam, Power Sector In Tripura
The Ministry of Finance in a statement says that these loans will help in the economic development of Maharastra, Tripura, Assam and Chennai
Photo Credit : Stock
Asian Development Bank (ADB) and India have signed loans with India to improve connectivity in Assam and Maharashtra, the power sector in Tripura and the railway network in Chennai.
The Ministry of Finance in a statement said that ADB and the central government signed a USD 350 million loan to improve the connectivity of key economic areas in Maharashtra.
At least 319 kilometers (km) of state highways and 149 km of district roads will be upgraded incorporating climate and disaster-resilient features to strengthen the state’s core road network.
Also, both parties signed a USD 300 million loan to upgrade over 300 kilometre of state highways and major district roads (MDRs) in Assam.
In Assam, community schools, water, health, and sanitation facilities, and heritage and tourism sites will be restored in affected indigenous peoples’ villages, said the ministry.
The statement added that in Tripura, the latest USD 220 million loan will improve energy security, quality of supply, efficiency, and resilience of the power sector in the state.
Meanwhile, the Modi government and ADB signed a USD 350 million loan to build new lines and improve the connectivity of the metro rail system in Chennai with the city’s existing public transport system.