ADB signs $200 billion loan agreement for Jharkhand roads

The Asian Development Bank (ADB) and the Government of India have signed a $200 million loan agreement to upgrade 176 km of state roads in Jharkhand. The financing for the Jharkhand State Roads II Project will be used to upgrade sections of four state roads to two lanes and to support improvements in the design, safety and maintenance of the road network. ADB started supporting improvements in road connectivity in the state with an initial loan in 2009 and the new assistance will facilitate the ongoing physical upgrades as well as increase the institutional capacity of the State Highways Authority of Jharkhand, an autonomous road development agency. The first loan supported upgrades of 311 km of state roads and the new assistance will see the combined length increase to 487 km. The total cost of the project, which is due for completion in December 2019, is $306.25 million with the Jharkhand government providing counterpart assistance equivalent to $106.25 million.

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