MANU/PIBU/1418/2020
Department/Board : Press Information Bureau
Date : 28.05.2020
ADB, India sign $177 million loan for state road improvements in Maharashtra
The Asian Development Bank (ADB) and the Government of India today signed a $177 million loan to upgrade 450 kilometers (km) of state highways and major district roads in the state of Maharashtra.
The signatories to the Maharashtra State Road Improvement Project were Shri Sameer Kumar Khare, Additional Secretary (Fund Bank and ADB), Department of Economic Affairs in the Ministry of Finance who signed for the Government of India, and Mr Kenichi Yokoyama, Country Director of ADB's India Resident Mission who signed for ADB.
After signing the loan agreement, Shri Khare said that the project will
improve connectivity between rural areas and urban centers in the state enabling
rural communities to better access markets, employment opportunities and
services. Improved mobility will expand development and livelihood opportunities
outside of the state's major urban centers to second-tier cities and towns
thus reducing income disparities.
Mr. Yokoyama said that the project will also strengthen road safety measures by developing a road safety audit framework that will protect vulnerable groups such as the elderly, women, and children, following the international best practice. Giving more details, Mr. Yokoyama said that another feature of the project is to update road maintenance system by encouraging 5-year performance-based maintenance obligations to contractors to sustain asset quality and service levels.
Overall the project will upgrade 2 major district roads and 11 state
highways, with combined length of 450 km, to 2-lane standard across seven
districts of Maharashtra, and improve connectivity to national highways,
interstate roads, seaports, airports, rail hubs, district headquarters,
industrial areas, enterprise clusters and agricultural areas.
The project will also focus on training the Maharashtra Public Works Department project staff to build their capacity in climate change adaptation and disaster resilient features in road design, road maintenance planning and road safety.
ADB is committed to achieving a prosperous, inclusive, resilient, and
sustainable Asia and the Pacific, while sustaining its efforts to eradicate
extreme poverty. Established in 1966, it is owned by 68 members-49 from the
region.