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ADB, India sign $350 mn loan to improve connectivity in Maharashtra

ADB, India sign $350 mn loan to improve connectivity in MaharashtraThe Asian Development Bank (ADB) and the Government of India have signed a $350 million loan to improve the connectivity of key economic areas in Maharashtra. At least 319 kms of state highways and 149 kms of roads in the 10 districts will be upgraded as part of the agreement.

The signatories to the ‘Connecting Economic Clusters for Inclusive Growth in Maharashtra’ project are Rajat Kumar Mishra, Additional Secretary, Department of Economic Affairs in the Ministry of Finance, and Hoe Yun Jeong, Officer-in-Charge of ADB’s India Resident Mission.

Mishra stated that the project will help address intra-regional disparities by improving connectivity, facilitating access to services, and accelerating inclusive economic growth of lagging districts in the state.

“This project builds on ADB’s ongoing support to upgrade state highways and major district roads in Maharashtra,” said Jeong. “It demonstrates approaches and practices that are not yet common practice, including road safety demonstration corridors, climate change adaptation, disaster risk reduction, and highway works programs responsive to the needs of women, children, the elderly, and people with disability.”

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