India and ADB sign $175mn loan pact for MP road upgradation
India and the Asian Development Bank (ADB) have inked a $175 million loan agreement to upgrade 500 km of state highways and major district roads in Madhya Pradesh. The project will incorporate climate- and disaster-resilient designs, innovative road safety elements, and facilities catering to diverse needs. The agreement was signed by Juhi Mukherjee, Joint Secretary, Ministry of Finance, and Takeo Konishi, Country Director of ADB’s India Resident Mission. The initiative aims to enhance connectivity across 14 districts, fostering balanced economic development in Madhya Pradesh. ADB will also build the capacity of Madhya Pradesh Road Development Corporation Ltd (MPRDC) in climate change adaptation, disaster resilience, and road safety, promoting green technology and electric vehicle infrastructure.
📅Published on:
09 December 2023
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