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Asian Development Bank announces $200 million loan to build roads in Northeast India
The Economic Times | 22 Jul, 2011, 08.55PM IST,PTI
Multilateral funding agency Asian Development Bank on Friday announced a $200 million loan to reconstruct roads in north-eastern region of the country to open up growth and development opportunities.
The funds, to be released in two tranches under the North Eastern State Roads Investment Programme , will upgrade over 400 km of roads in the north-eastern states of Assam, Manipur, Meghalaya, Mizoram, Sikkim and Tripura.
Better roads in the region are bound to significantly improve the investment climate for the private sector.
Moreover, an associated technical assistance grant of $1.2 million from the Japan Fund for Poverty Reduction, administered by ADB, will be provided to introduce modern road management practices.
The Ministry of Development of N-E region along with the six state governments will carry out the programme which is due for completion by 2016.
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* This Post is uploaded on July 23 2011.
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