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2011-06-16

India's loan agreement with ADB

The major portion of USD 130.3 million will be used to finance infrastructure such as transmission lines, while the remaining USD 1.9 million will be used for strengthening the internal capacity of th

On Wednesday, The Asian Development Bank (ADB) and the government of India have signed two loan agreements worth USD 432 million in the national capital.

Of this, USD 300 million loans will help the Madhya Pradesh government to upgrade about 1,000 km of State highways in the eastern and west central parts of the state, a finance ministry press statement said. The loan will help upgrade nearly 1,000 km of state highways in the eastern and west central parts of Madhya Pradesh.


As part of the loan package, ADB is additionally providing technical assistance worth USD 1 million to support road safety and private sector participation in state highway development and maintenance. Besides, a USD 132 million loan agreement was signed for strengthening Bihar's power sector.

The major portion of USD 130.3 million will be used to finance infrastructure such as transmission lines, while the remaining USD 1.9 million will be used for strengthening the internal capacity of the Bihar State Electricity Board (BSEB).

The project is expected to be completed by the end of 2015. It will provide/transmit additional 472,579 megawatt-hours (MWh) to consumers annually by the end of 2015 and reduce system losses by 3 percent by 2016 in the seven districts of Bihar.

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