Asian Development Bank (ADB) is an international development finance institution whose mission is to help its developing member countries reduce poverty and improve the quality of life of their people.
It was established in 1966 and is headquartered in Manila( Phillipines).
What is the amount of loan sanctioned by Asian Development Bank (ADB)?
India inked a loan agreement of $252 million dollar with ADB on 02-April-2013.
The loan represents the first Tranche of $800 million financing facility under the “rural connectivity investment programme”
Who are the beneficiaries?
The loan has been granted to Assam, Chattisgarh, Odisha, West Bengal and Madhya Pradesh for continued improvement of Rural Roads.
It would be utilized to construct 3461 km of all weather road in these states to benefit more than 16000 habitations.
Who would be the executing agency of the Project for which loan has been sanctioned?
At Central level, Ministry of Rural Development will be the executing agency while the implementing agencies would be the respective Rural Roads Development Agencies.