ADB, India ink $200 million loan agreement for Jharkhand roads
Posted on: 04 Jun 2016 17:59:58
04 June 2016 Current Affairs: The Indian government and the Asian Development Bank (ADB) on 3 June 2016 inked an agreement for a $200 million loan to upgrade 176-km roads in Jharkhand.
The financing for the Jharkhand State Roads II Project will help upgrade the existing sections of four state roads and also support improvements in the design, safety and maintenance of the road network.
The project will also develop a road safety master plan of international standard, which will promote road safety in Jharkhand.
The new assistance will continue the ongoing physical upgrades as well as increasing the institutional capacity of the State Highways Authority of Jharkhand (SHAJ) as an autonomous road development agency.
The safety and environmental friendly features include 60 bus stop shelters, 50-km raised sidewalks in urban areas, four-km dedicated bicycle lanes and solar-powered street lights.
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