India and Asian Development Bank sign $ 412 million loan agreement


India and the Asian Development Bank (ADB) signed two loan agreements worth 412 million rupees for the improvement of rural economy and connectivity in Maharashtra and the development of infrastructure in Maharashtra. water supply in Jharkhand.

Of the total loan amount, $ 300 million has been earmarked for additional financing to scale up improving rural connectivity to boost the rural economy in Maharashtra state, according to an AfDB note issued by its Senior External Relations Officer Rajesh Kumar Deol here.

The additional funding aims to improve 1,100 additional rural roads and 230 bridges for a total length of 2,900 km in 34 districts. The ongoing project with funding of $ 200 million, approved in August 2019, is already improving and maintaining the condition and safety of 2,100 km of rural roads across Maharashtra, the AfDB note said.

The Additional Secretary in the Department of Economic Affairs of the Ministry of Finance, Rajat Kumar Mishra, and the AfDB Country Director for India, Takeo Konishi, signed the loan agreements.

“With the additional funding, the overall project will improve the condition and safety of 5,000 km of rural roads and over 200 bridges connecting rural communities to productive agricultural areas and socio-economic centers in Maharashtra,” Mishra said. after signing the agreement.

AfDB Country Director for India Takeo Konishi said: “Improving connectivity through climate-resilient, all-season rural roads will help accelerate Maharashtra’s economic recovery from COVID-19 shock by generating rural jobs and transforming agriculture. “

On the remaining loan of $ 112 million for the development of water supply infrastructure to Jharkhand Rajat Kumar Mishra said it would be spent to improve urban services in the state in addition to ensuring “a continuous supply in treated water in the state capital of Ranchi and in three other towns of Hussainabad, Jhumri Telaiya and Medininagar located in economically and socially backward areas.

“The project will be the AfDB’s first urban project in the state and will help establish a model of continuous water supply combined with policy reforms for sustainable operation, which can be replicated by other low-income states for provide drinking water to urban households, as envisaged in the national Jal Jeevan mission, ”said the AfDB country director.

Four water treatment plants, with a combined capacity of 275 million liters per day, will be established in the project towns to provide potable water, meeting national drinking water quality standards. The project will also establish 940 kilometers of water distribution network to provide a continuous supply of water to approximately 115,000 households, including those below the poverty line, members of listed castes and tribes, and other vulnerable groups. , added the AfDB.

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