ADB extends US$252mn loan to fund road construction in five India states

Philippines-based Asian Development Bank (ADB) has agreed to loan the Indian government US$252 million for key road construction projects. The 25-year loan has a grace period of five years, a commitment charge of 0.15% per annum, and the interest rate will be determined on ADB’s LIBOR-based lending facility. The loan will be used to finance the construction of 3,461km of all-weather rural roads in West Bengal, Odisha, Madhya Pradesh, Chhattisgarh and Assam with the first phase scheduled to complete in Decem
April 9, 2013 Read time: 1 min
Philippines-based 943 Asian Development Bank (ADB) has agreed to loan the Indian government US$252 million for key road construction projects. The 25-year loan has a grace period of five years, a commitment charge of 0.15% per annum, and the interest rate will be determined on ADB’s LIBOR-based lending facility.

The loan will be used to finance the construction of 3,461km of all-weather rural roads in West Bengal, Odisha, Madhya Pradesh, Chhattisgarh and Assam with the first phase scheduled to complete in December 2015. The rural roads will benefit 1,600 rural habitations across the five states. The loan is also the first tranche of an $800 million financing facility under the Rural Connectivity Investment Programme.

For more information on companies in this article

Related Content

  • ADB loan India US$275mn to boost rural connectivity
    February 13, 2014
    The Indian government has signed a pact with Asian Development Bank (ADB) for loans worth US$ 275 million, as part of its nationwide Rural Connectivity Investment Programme. The loan is the second tranche of the $800 million financing facility set aside for the project, and will be used to finance works of constructing 3,693km of rural roads in five Indian states such as West Bengal, Odisha, Madhya Pradesh, Chhattisgarh, and Assam. Further funds of $81.56 million will be financed by the government, taking t
    Read More
  • India: Asian Development Bank to support rural road works
    April 28, 2015
    The Asian Development Bank (ADB) said it will provide around US$2 billion for constructing new rural roads in five Indian states, according to The Hindu newspaper. The projects in Assam, Madhya Pradesh, Odisha, Chhattisgarh and West Bengal states, will involve constructing and upgrading 31,000km of rural roads that will improve connectivity to more than 12,500 villages. The move will also provide more employment opportunities in the area, improve school enrolment and provides better remuneration for f
    Read More
  • ADB’s US$95mn loan for key Kazakhstan highway
    July 9, 2012
    Asian Development Bank (ADB) will provide a loan worth US$95million to Kazakhstan for the reconstruction of the Western Europe - Western China highway. The 20-year loan will be given with a four-year grace period at interest rate of LIBOR+0.4% for each interest-paying period. The overall cost of the Western Europe-Western China highway project is US$ 112million.
    Read More
  • ADB to provide US$300 million loan for roads project in Chhattisgarh, India
    December 13, 2012
    The Chhattisgarh government in India will receive a US$300 million loan from the Philippines-based Asian Development Bank (ADB) for upgrading more than 900km of roads by 2017. The project will include works like building new sections, expanding roads to accommodate a two-lane system as well as the construction and strengthening of culverts and bridges. The state will also contribute over $128 million for a total project investment cost of $428.10 million.
    Read More

Highlighted Content