ADB approves loan worth Rs 34.66 billion for road project in Madhya Pradesh

The Asian Development Bank (ADB) has approved a loan worth Rs 34.66 billion for a road development project in Madhya Pradesh. The project includes upgradation of state highways spanning 750 km and major district roads spanning 850 km from two-lane to all-weather standards on a public-private partnership basis. The project is expected to be completed by May 2024. Of the total project cost of Rs 63.95 billion, funds worth Rs 20.23 billion and Rs 9.06 billion will be provided by the private sector and state government respectively.