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$175 million ADB loan for upgrading Madhya Pradesh highways okayed


$175 million ADB loan for upgrading Madhya Pradesh highways okayedDecember 6, 2023New Delhi, Dec 6 (IANS) India and the Asian Development Bank (ADB) have signed a $175 million loan to upgrade 500 kilometres of state highways and major district roads in Madhya Pradesh to a standard two-lane feature.These roads will incorporate climate- and disaster-resilient design, innovative road safety elements, and facilities that will respond to the needs of the elderly, women, children, and people with disabilities, the Finance Ministry said on Wednesday.The signatories to the loan agreement were Juhi Mukherjee, Joint Secretary, Ministry of Finance, on behalf of India and Takeo Konishi, Country Director of ADB’s India Resident Mission, for ADB.After signing the loan agreement, Mukherjee stated that this project will enhance connectivity in the state road network across 14 districts to enable balanced economic development in Madhya Pradesh.”Since 2002, the ADB has supported road development in Madhya Pradesh upgrading more than 9,000 kilometres of state highways and major district roads. This project continues these efforts and will connect rural areas to growth centres and industrial corridors and establish roads that are better, safer, and more climate-resilient,” Konishi said.The ADB will build the capacity of the Madhya Pradesh Road Development Corporation Ltd (MPRDC) on climate change adaptation and mitigation, disaster resilience, and road safety in road network planning and management. The project will help prepare strategies and plans to utilise green technology in road construction and establish charging infrastructure for electric vehicles.–IANSpannu/vd

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