$315 mn ADB loan for Karnataka road projectsJuly 20th, 2011 - 11:54 pm ICT by IANS
New Delhi, July 20 (IANS) The Asian Development Bank (ADB) is giving a $315 million loan for improving state highways in Karnataka. This is the first loan assistance from ADB to Karnataka for upgrading its roads.
The loan will upgrade about 615 km of state highways identified from the core road network of the state. It will also strengthen the capacity of Karnataka’s public works department (PWD) to develop, operate, and maintain the state road network.
“Road improvement works will include the upgrading of existing roads to two lane, construction of bypasses, strengthening of culverts and bridges, and construction of new bridges and drainage structures,” said an official statement here.
A tripartite agreement was signed for the loan Wednesday. Venu Rajamony, joint secretary (multilateral institutions) at the union finance ministry; Prodyut Dutt, officer-in-charge, ADB’s India mission and Subhash Chandra Khuntia, Karnataka’s principal secretary, public works, ports and inland water transport, signed the deal.
“This project will not only ease the stress on physical infrastructure that has been placed in recent years, but also contribute to capacity building and enable transfer of best practices in asset management,” Rajamony said after signing.
India, a founding member of the bank, has so far received 144 loans from ADB amounting to $23.25 billion. It has also received 313 technical assistance projects amounting to $232.5 million on cumulative basis so far. India received the first ADB assistance in 1986.
- ADB gives $300 mn loan for road projects in Madhya Pradesh - Jun 15, 2011
- ADB Extends 315 million dollar for highway overhaul in Karnataka - Nov 29, 2010
- Bihar gets $132 mn ADB loan for power projects - Jun 15, 2011
- ADB provides 300 million dollars to Bihar to improve roads, boost growth - Sep 16, 2010
- ADB to give $889 million for Himachal, Assam power projects - Jan 19, 2011
- World Bank gives $45 million loan for improving highways - Dec 22, 2010
- ADB offers $150 mn loan to improve railway system - Jul 10, 2012
- Asian Development Bank approves $470 mn loans for India - Sep 16, 2010
- ADB to finance roads in northeast - Jul 23, 2011
- $95 mn ADB loan for Himachal tourism infrastructure - Jul 21, 2011
- India gets $250 mn infrastructure loan from ADB - Mar 21, 2011
- ADB to lend $470 million for Bihar and Maharashtra projects - Sep 16, 2010
- ADB approves 650-mn-dollar loan to help Pakistan rebuild flood-hit infrastructure - Mar 31, 2011
- ADB offers $52 mn loan to curb coastal erosion in India - Aug 17, 2011
- $220 million World Bank credit for Bihar flood-affected - Sep 10, 2010
Tags: adb loan, asian development bank, capacity building, culverts, cumulative basis, drainage structures, improvement works, india mission, inland water transport, lane construction, loan assistance, multilateral institutions, physical infrastructure, principal secretary, road improvement, state highways, subhash chandra, technical assistance projects, tripartite agreement, union finance ministry