The Asian Development Bank (ADB) has cleared $346 million to finance road networks across a dozen districts in Karnataka. Along with the Government of India, it has signed a loan agreement to finance improvement of over 400-km of state highways that will enhance connectivity to economic centres across the 12 districts. The agreement for the Karnataka State Highways Improvement III Project (KSHIP-III) was inked between Sameer Kumar Khare, Joint Secretary in the Finance Ministry and Kenichi Yokoyama, Country Director of ADB's India Resident Mission. ADB informed that an ongoing road improvement project financed by it with a loan of USD 315 million is upgrading about 615 km of state roads and the new loan will continue ADB's support to the government of Karnataka's state-wide road improvement program and will help stabilize and deepen institutional capacity and improve road safety.
📅Published on:
06 September 2018
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