25 April 2008
India: The Asian Development Bank (ADB) has set up a US$ 750 million loan facility to the Indian Government for its rural road programme. Under the scheme, which is now in its fifth year, the Government is creating all-weather road connections to villages in rural areas.
So far 66000 km of roads have been improved and another 47000 km is nearing completion. The new ADB facility will be used to help fund upgrading work to another 30000 km of roads, connecting 19000 villages to the existing all weather road network. The financing facility will be provided by the ADB over a five year period as multiple loans, which will each finance a clearly defined project.